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Forex: EUR/JPY below MoF Aso ESM level of 114.55-60

By FXstreet.com,  January 08, 2013, 11:13:00 PM EDT

FXstreet.com (Barcelona) - EUR/JPY is currently near session highs last at 114.29, off session lows at 113.55. "Stops were triggered pre-Tokyo below 113.65 but there was no follow-through," said FXWW founder Sean Lee. "Should stay fairly quiet now ahead on the ECB tomorrow, although 'quiet' for EUR/JPY might mean a 200 pip range!," the analyst adds.

The cross is now below "the MoF Aso ESM level of 114.55-60" from yesterday, as FXMarketAlerts Team call it, while some analysts are now saying this will have no impact on Yen. EUR/JPY is still -0.74% lower for the week, while Nikkei index is higher +0.83% for the session, after opening lower for second day in a row, bouncing from session lows around the 10400 points level.

Immediate resistance to the upside for EUR/JPY shows at Dec 28 highs 114.71, followed by yesterday's highs at 115.25, and Monday's highs at 115.57. To the downside, closest support lies at recent session/Jan 03 lows 113.65/55, followed by Dec 31 lows at 113.13 and Dec 19 highs at 112.50.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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