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8 Oct 2013
EUR/JPY bounces off from 131.13 3-week lows
FXstreet.com (Chicago) - EUR/JPY was able to strengthen after falling to three-week lows around the 131.13 zone prior to Tokyo’s opening. Extending the bearish channel and downward trendline from last September 18th, the pair consolidates a potential reversal.
EUR/JPY Technical Levels
Price action reveals speed downward trendlines that indicate steeper plunges printing 3-week lows ahead of Tokyo’s opening and the strengthening of a safe-haven currency on US shutdown and debt ceiling hard deadline approaching. Offered at 131.28, the pair navigates between the supports aligned at 131 (August 20th highs), 130.54 (August 30th highs) ahead of 129.82 (September 8th lows) and the resistances set at 131.43 (October 2nd lows), 131.83 (September 17th lows) followed by 132.22 (October 4th highs).
EUR/JPY Technical Levels
Price action reveals speed downward trendlines that indicate steeper plunges printing 3-week lows ahead of Tokyo’s opening and the strengthening of a safe-haven currency on US shutdown and debt ceiling hard deadline approaching. Offered at 131.28, the pair navigates between the supports aligned at 131 (August 20th highs), 130.54 (August 30th highs) ahead of 129.82 (September 8th lows) and the resistances set at 131.43 (October 2nd lows), 131.83 (September 17th lows) followed by 132.22 (October 4th highs).