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10 Sep 2013
EUR/JPY backs away from 4-month high
FXstreet.com (Córdoba) - The EUR/JPY rallied toward its highest level in almost 4 months Tuesday, underpinned by the risk-on mood as prospects of an imminent strike on Syria diminished.
EUR/JPY gained over 130 pips throughout the day and peaked at 133.29, last seen May 22, before losing momentum during the American session. However, with the subsequent setback being contained by the 10-hour SMA around 132.75, the pair has entered a quieter phase and currently trades around 133.00, still 0.8% above its opening price.
EUR/JPY technical levels
As for technical levels, EUR/JPY could face immediate resistances at 133.29 (daily high) and 133.80 (May 22 high). On the downside, supports are now seen at 132.50 (20-hour SMA) and 131.90 (daily low).
EUR/JPY gained over 130 pips throughout the day and peaked at 133.29, last seen May 22, before losing momentum during the American session. However, with the subsequent setback being contained by the 10-hour SMA around 132.75, the pair has entered a quieter phase and currently trades around 133.00, still 0.8% above its opening price.
EUR/JPY technical levels
As for technical levels, EUR/JPY could face immediate resistances at 133.29 (daily high) and 133.80 (May 22 high). On the downside, supports are now seen at 132.50 (20-hour SMA) and 131.90 (daily low).