19 Jul 2013
EUR/JPY strongly rejected from 132 highs on Yen strength
FXstreet.com (Barcelona) - The EUR/JPY foreign exchange cross rate is currently trading at 131.69 asks and rising, off recent session lows at 131.38, after the cross has tumbled from recent fresh session and weekly highs at 132.10, on the back of a massive Yen spike and Nikkei index selling off.
EUR/JPY tumbles on Nikkei futures selling
According to the Nikkei news agency, the stocks index that carry its name, the massive move lower came on the back of “futures selling,” taking USD with it across the board, shaping a huge short squeeze in the USD indext to session highs at 82.96, just to come back again to initial start point at current 82.77. USD/JPY went from session/weekly highs at 100.87, to fresh session lows at 100.19.
EUR/JPY key technical levels
Immediate support to the downside for EUR/JPY lies at recent session lows/Wednesday's highs 131.37, followed by early NY session lows at 131.06, and Tuesday's highs at 130.81. To the upside, closest resistance shows at NY session Thursday highs 131.89, followed by recent session/weekly highs at 132.10, and May 28 highs at 132.18.
EUR/JPY tumbles on Nikkei futures selling
According to the Nikkei news agency, the stocks index that carry its name, the massive move lower came on the back of “futures selling,” taking USD with it across the board, shaping a huge short squeeze in the USD indext to session highs at 82.96, just to come back again to initial start point at current 82.77. USD/JPY went from session/weekly highs at 100.87, to fresh session lows at 100.19.
EUR/JPY key technical levels
Immediate support to the downside for EUR/JPY lies at recent session lows/Wednesday's highs 131.37, followed by early NY session lows at 131.06, and Tuesday's highs at 130.81. To the upside, closest resistance shows at NY session Thursday highs 131.89, followed by recent session/weekly highs at 132.10, and May 28 highs at 132.18.