8 Jul 2013
EUR/JPY hovering around 130.00
FXstreet.com (Córdoba) - The EUR/JPY has entered in a consolidation phase on Monday, as most crosses in the FX market, well within last week's range.
EUR/JPY recovered from a daily low of 129.38 scored during the European session, but the subsequent bounce was capped by the 130.15 zone, confining the cross to sideways trading. At time of writing, EUR/JPY is quoting around 129.95, where it is 0.2% above its opening price.
EUR/JPY downside limited
From a technical perspective, the UBS analyst team holds a bullish bias on EUR/JPY. "Downside should be limited, and we expect the support at 128.04 to hold", they commented. "Resistance is at 131.12 ahead of the key 133.80".
EUR/JPY recovered from a daily low of 129.38 scored during the European session, but the subsequent bounce was capped by the 130.15 zone, confining the cross to sideways trading. At time of writing, EUR/JPY is quoting around 129.95, where it is 0.2% above its opening price.
EUR/JPY downside limited
From a technical perspective, the UBS analyst team holds a bullish bias on EUR/JPY. "Downside should be limited, and we expect the support at 128.04 to hold", they commented. "Resistance is at 131.12 ahead of the key 133.80".