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Forex: EUR/JPY backs away from highs

FXstreet.com (Córdoba) - The euro managed to recover ground on Friday, advancing against the dollar and the yen during the European session, but the shared currency is faltering minutes ahead of the US NFP report following Nowotny latest comments saying discussion is ongoing, and the ECB is open minded about a negative deposit rate.

EUR/JPY reached a daily high of 128.90 during the European session, but was rejected from that level and pulled back toward 128.35 before finding support. At time of writing, the cross is trading around 128.55, still up 0.5% on the day.

As for technical levels, the Mataf.net analyst team locates next support levels at 128.00 and 127.20, while they see resistances at 128.90, 129.30 and 129.95.

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