9 Aug 2013
EUR/JPY, shut off comeback?
FXstreet.com (Chicago) - EUR/JPY retraced from 129.70 to bounce off 129.18 as climbing attempts continue.
Price action indicates the euro is attempting to recover earlier losses as its approaches immediate resistance after struggling to break off 129.26 support from where it jumped off within minutes after dipping below it.
Trading at 129.38, the pair is reported as strongly bullish by the FXstreet trend index. On the upside, resistances are aligned at 129.44 (July 12th lows), 129.59 (June 20th highs), 129.72 (July 31st lows) with supports at 129.26 (June 24th highs), 129.09 (June 24th highs) and 128.83 (July 3rd lows) on the downside.
Price action indicates the euro is attempting to recover earlier losses as its approaches immediate resistance after struggling to break off 129.26 support from where it jumped off within minutes after dipping below it.
Trading at 129.38, the pair is reported as strongly bullish by the FXstreet trend index. On the upside, resistances are aligned at 129.44 (July 12th lows), 129.59 (June 20th highs), 129.72 (July 31st lows) with supports at 129.26 (June 24th highs), 129.09 (June 24th highs) and 128.83 (July 3rd lows) on the downside.