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29 May 2013
EUR/JPY side-lined
FXstreet.com (London) - The EUR/JPY is oscillating between 130.71 and 131.22.
The pair have been testing a support line while it attempts to resume a breakout for the March lows in an environment of a stronger dollar which is testing the Euro’s robustness. The Yen managed to scale back some gains, which has propped up the Japanese’s currency, on a day that had seen a decent start to the 2nd quarter in the high streets in Japan.
Sitting below the pivot of 131.42, momentum offers lower levels with EMA20 offering a short-term bit of support slightly ahead of Mondays highs. Support comes at Aprils highs at 130.50 and before 129.90.
The pair have been testing a support line while it attempts to resume a breakout for the March lows in an environment of a stronger dollar which is testing the Euro’s robustness. The Yen managed to scale back some gains, which has propped up the Japanese’s currency, on a day that had seen a decent start to the 2nd quarter in the high streets in Japan.
Sitting below the pivot of 131.42, momentum offers lower levels with EMA20 offering a short-term bit of support slightly ahead of Mondays highs. Support comes at Aprils highs at 130.50 and before 129.90.