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25 Jun 2013
EUR/JPY testing 128.00 level
FXstreet.com (New York) - The EUR/JPY technical pair has edged back to the 128.00 barrier in these moments, having climbed its way out of larger European losses Tuesday.
EUR/JPY cannot escape negative territory
At the time of writing, the EUR/JPY pair is testing the 128.00 level, still incurring a loss of -0.16% despite the gradual recovery during US trading. Mataf.net analysts calculate the next supportive structures in the short-term at 127.37, then 126.36, and finally 125.45. On the ascension, the EUR/JPY rise will be met with resistances at 129.29 onto 130.20.
EUR/JPY bullish bounce likely
According to the technical analyst team at ICN.com, “The EUR/JPY pair continues to fluctuate, however after formed a minor falling channel or flag pattern, we project a continuation of the bullish bounce is likely, a break above the flag would be the first signal of this scenario.”
EUR/JPY cannot escape negative territory
At the time of writing, the EUR/JPY pair is testing the 128.00 level, still incurring a loss of -0.16% despite the gradual recovery during US trading. Mataf.net analysts calculate the next supportive structures in the short-term at 127.37, then 126.36, and finally 125.45. On the ascension, the EUR/JPY rise will be met with resistances at 129.29 onto 130.20.
EUR/JPY bullish bounce likely
According to the technical analyst team at ICN.com, “The EUR/JPY pair continues to fluctuate, however after formed a minor falling channel or flag pattern, we project a continuation of the bullish bounce is likely, a break above the flag would be the first signal of this scenario.”