26 May 2015
EUR/JPY supported on 133.80 on downside
FXStreet (Guatemala) - EUR/JPY is currently trading at 133.85 with a high of 134.51 and low of 133.10.
EUR/JPY is making lower lows and highs on to 133.80 support. The greenback has lead the way again today and is weighing heavily on the euro, taking it to fresh lows for the month while USD/JPY is on the verge of a potential breakout and moving in to a new range, out of the fourth month dead lock.
The market is punishing the euro with the ECB's QE programme and subsequent ramifications taking the attention along with uncertainty of a Grexit, while IMF payments are due in early June and a growing number of Greek officials are telling the markets that there is the possibility that these will not be met.
EUR/JPY bears have the 131.00 55 day ma as a target ahead of 126.08 low, as suggested by Karen Jones, chief analyst at Commerzbank. "Rallies should ideally terminate 135.35, key resistance remains 136.70/137.25 – the February high and 200 day ma."
EUR/JPY is making lower lows and highs on to 133.80 support. The greenback has lead the way again today and is weighing heavily on the euro, taking it to fresh lows for the month while USD/JPY is on the verge of a potential breakout and moving in to a new range, out of the fourth month dead lock.
The market is punishing the euro with the ECB's QE programme and subsequent ramifications taking the attention along with uncertainty of a Grexit, while IMF payments are due in early June and a growing number of Greek officials are telling the markets that there is the possibility that these will not be met.
EUR/JPY bears have the 131.00 55 day ma as a target ahead of 126.08 low, as suggested by Karen Jones, chief analyst at Commerzbank. "Rallies should ideally terminate 135.35, key resistance remains 136.70/137.25 – the February high and 200 day ma."