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28 May 2013
EUR/JPY trading at resistance at 131.84/91
FXstreet.com (Barcelona) - The EUR/JPY has benefited in a JPY waning across the board Tuesday, having jumped higher during European trading and briefly touching the 132.00 level earlier today (132.05 session high).
Briefing the technicals, the pair has settled at 131.84/91 in these moments, notching a sizable surge of +1.01%. The latest action pits the pair above resistances at 131.44, facing the next means of correction at the 131.84 level, onto 132.41. Alternatively, a movement lower will usher in support at 130.47, ahead of 129.90.
According to the Technical Analyst Team at ICN.com, “The EURJPY did not confirm a break below the ascending trend line, as price has tentatively broken the level, we need to see further stability below 131.10 and price to close decisively below the level to confirm a move lower. However, due to the attractive risk-reward at the current levels, we will continue to stand on the bearish side.”
Briefing the technicals, the pair has settled at 131.84/91 in these moments, notching a sizable surge of +1.01%. The latest action pits the pair above resistances at 131.44, facing the next means of correction at the 131.84 level, onto 132.41. Alternatively, a movement lower will usher in support at 130.47, ahead of 129.90.
According to the Technical Analyst Team at ICN.com, “The EURJPY did not confirm a break below the ascending trend line, as price has tentatively broken the level, we need to see further stability below 131.10 and price to close decisively below the level to confirm a move lower. However, due to the attractive risk-reward at the current levels, we will continue to stand on the bearish side.”