by Fri, 24 Sep 2010 05:27:00 +0200
Forex: EUR/JPY bounces off lows and reaches 112.90
FXstreet.com (Córdoba) - The Yen is weakening across the board on speculation Japan will intervene to curb the currency strength. EUR/JPY in particular, is staging a bounce from the 112.20 area where it bottomed late NY session, just a few pips above Thursday’s low reached at 112.15.
EUR/JPY has risen almost 60 pips since the beginning of the Asian session and currently trades at daily highs around 112.90, 0.51% above its previous close.
According to the FXMarketAlerts team, next resistance levels come at 113.10/15, 113.95 (9 Aug high) and 113.43/53 (23, 22 Sep highs), while supports lie at 112.18/25 (23 Sep low), 111.47/70 (17-21 Sep lows) and 111.22 (100-day MA)
| Technical Analysis (2010-09-24 03:15 GMT) | |
|---|---|
EUR/JPY 112.9/112.93 - O: 111.935 H: 111.96 L: 111.89 C: 111.92 | |
| Trend | R3: 113.33 |
 | R2: 113.05 |
| R1: 112.77 | |
| S1: 111.99 | |
| S2: 112.27 | |
| S3: 112.55 | |
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