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22 Apr 2013
Forex: EUR/JPY briefly dips below 129.00
FXstreet.com (Córdoba) - The yen extended gains across the board and briefly dragged EUR/JPY below 129.00, as worse-than-expected US housing data set in cautious among investors.
EUR/JPY accelerated to the downside, having dropped over 170 pips throughout the day, and hit a low of 128.90 before the 100-hour SMA offered support. At time of writing, EUR/JPY is trading around 129.30, where it posts a 0.9% daily loss.
Below 128.90, next support for the cross could be found at 128.04/00 (Apr 19 low/psychological level), while on the other hand, resistances are seen at 130.15 (20-hour SMA) and 130.65 (daily high).
EUR/JPY accelerated to the downside, having dropped over 170 pips throughout the day, and hit a low of 128.90 before the 100-hour SMA offered support. At time of writing, EUR/JPY is trading around 129.30, where it posts a 0.9% daily loss.
Below 128.90, next support for the cross could be found at 128.04/00 (Apr 19 low/psychological level), while on the other hand, resistances are seen at 130.15 (20-hour SMA) and 130.65 (daily high).