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5 Jul 2013
EUR/JPY loses 129.40 support, vulnerable to ease further
FXstreet.com (Barcelona) - EUR/JPY has waned lower towards 129.16 after a steady fall off 129.60, which accelerated n the loss of 129.40, area buyers had been protecting.
Importer demand for USD/JPY wanes
According to Eamonn Sheridan, Editor at Forexlive, "Good importer demand for USD/JPY held it up this morning but has since been pretty much filled in; so just seeing some USD/JPY selling from its highs." That has had an impact on the EUR/JPY selling pressure too, as EUR/USD remains subdued just below 1.29. Sheridan adds that "Overall volumes are down significnatly from a normal day as the market comes off the US holiday and awaits the NFP numbers tonight."
EUR/JPY bearish pressure may intensify
As noted by Haruya Ida from IFR Markets, "the Dovish ECB sent EUR/JPY back towards middle of 126.43-131.13 Ichi cloud, with some support just below at flat 128.82, 128.51 tenkan-kijun lines, more at gradually ascending 100-day moving average at 127.16." On the topside, resistance pre-cloud top affirmed Ida said, hence, "cross likely to ease towards cloud base."
Importer demand for USD/JPY wanes
According to Eamonn Sheridan, Editor at Forexlive, "Good importer demand for USD/JPY held it up this morning but has since been pretty much filled in; so just seeing some USD/JPY selling from its highs." That has had an impact on the EUR/JPY selling pressure too, as EUR/USD remains subdued just below 1.29. Sheridan adds that "Overall volumes are down significnatly from a normal day as the market comes off the US holiday and awaits the NFP numbers tonight."
EUR/JPY bearish pressure may intensify
As noted by Haruya Ida from IFR Markets, "the Dovish ECB sent EUR/JPY back towards middle of 126.43-131.13 Ichi cloud, with some support just below at flat 128.82, 128.51 tenkan-kijun lines, more at gradually ascending 100-day moving average at 127.16." On the topside, resistance pre-cloud top affirmed Ida said, hence, "cross likely to ease towards cloud base."