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17 Jun 2013
EUR/JPY stalls at 100-hour SMA
FXstreet.com (Córdoba) - The EUR/JPY recovered ground on Monday, coming off a string of losses, as the yen weakened broadly as stocks rose across the globe
EUR/JPY holds onto gains
In a quiet day, EUR/JPY managed to gather some pace and climbed to the 126.90 zone before finding resistance at the 100-hour SMA and pulling back. At time of writing, the cross is trading at the 126.60 zone, up 0.7% on the day and within sight of a two-month trough of 124.95 scored last week.
Immediate resistances for EUR/JPY are seen at 126.90 (daily high) and 128.10 (Jun 14 high), while supports could be found at 126.00 (psychological level) and 125.50 (daily low).
EUR/JPY holds onto gains
In a quiet day, EUR/JPY managed to gather some pace and climbed to the 126.90 zone before finding resistance at the 100-hour SMA and pulling back. At time of writing, the cross is trading at the 126.60 zone, up 0.7% on the day and within sight of a two-month trough of 124.95 scored last week.
Immediate resistances for EUR/JPY are seen at 126.90 (daily high) and 128.10 (Jun 14 high), while supports could be found at 126.00 (psychological level) and 125.50 (daily low).