9 May 2013
Forex: EUR/JPY eyes 132.00 on weaker yen
FXstreet.com (Barcelona) - The Japanese yen now intensifies its depreciation across the board, pushing the cross to the proximities of 132.00, levels last seen in January 2010. In the same tone, the yen is falling below the 100.00 mark against the greenback, lifting the cross to 4-year highs.
At the moment the cross is advancing 0.99% at 131.52 with the next resistance at 132.05 (50% of 2008-2012 drop) followed by 132.40 (high Jan. 15 2010) and finally 133.62 (high Jan.14).
On the downside, a dip beyond 130.25 (high May 9) would aim for 129.64 (low May 9) and then 129.29 (hourly low May 8).
At the moment the cross is advancing 0.99% at 131.52 with the next resistance at 132.05 (50% of 2008-2012 drop) followed by 132.40 (high Jan. 15 2010) and finally 133.62 (high Jan.14).
On the downside, a dip beyond 130.25 (high May 9) would aim for 129.64 (low May 9) and then 129.29 (hourly low May 8).