Tuesday, November 24, 2015

EUR/JPY drops to lows at 130.40

FXStreet (Edinburgh) - The Japanese yen is now regaining ground lost to the euro during the Asian trading hours, taking EUR/JPY to session lows in the 130.40 region.

EUR/JPY attention to IFO, BoJ

The cross is extending its weekly leg lower, already trading at shouting distance from Monday’s multi-month lows around 130.30, while the selling pressure around EUR remains unabated.

In the data space, German IFO indicator is due later, while the BoJ minutes will take centre stage in Japan early tomorrow.

EUR/JPY significant levels

The cross is losing 0.13% at 130.41 and a break below 130.29 (low Nov.23) would expose 130.12 (low Jan.26) and finally 130.00 (psychological level). On the flip side, he next resistance lines up at 133.23 (high Nov.6) followed by 134.25 (200-day sma) and finally 134.94 (100-day sma).
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