16 Jul 2013
EUR/JPY rally capped at the 130.60 region
FXstreet.com (New York) - The EUR/JPY technical pair found itself hitting a wall at 130.58 (session high) Tuesday morning, as Japanese investors prepare to return from work after a long weekend.
At the time of writing, the EUR/JPY is trading at 130.51, operating positively at +0.05%. The EUR/JPY will face resistances at 130.75 (July 3 high), onto 131.07 (July 2 high), and 131.26 (June 11 high).
EUR/JPY strategic bias
According to Valeria Bednarik, an analyst at FXstreet.com, “The EUR/JPY trades at the top of its latest range, having been as high as 130.69, and maintaining a positive tone – the price is well above moving averages and indicators in positive territory. Moreover, short-term buyers may now surge on dips towards 130.00/10 area, still looking for a test of 131.00 price zone.”
At the time of writing, the EUR/JPY is trading at 130.51, operating positively at +0.05%. The EUR/JPY will face resistances at 130.75 (July 3 high), onto 131.07 (July 2 high), and 131.26 (June 11 high).
EUR/JPY strategic bias
According to Valeria Bednarik, an analyst at FXstreet.com, “The EUR/JPY trades at the top of its latest range, having been as high as 130.69, and maintaining a positive tone – the price is well above moving averages and indicators in positive territory. Moreover, short-term buyers may now surge on dips towards 130.00/10 area, still looking for a test of 131.00 price zone.”