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Forex: EUR/JPY capped below fresh 17-month highs at 116.00

By FXstreet.com,  January 02, 2013, 06:41:00 PM EDT

FXstreet.com (Barcelona) - EUR/JPY is currently near session lows last at 115.03, off session highs at 115.22, still higher for the year by +0.68%. The cross is retracing from fresh 17-month highs yesterday around the 116 figure, once EUR/USD was knocked down again from the 1.33 round level.

"EUR/JPY will again be the key and I would not be surprised to see a wide 113/116 range over the next two days," says FXWW founder Sean Lee, adding: "Risk-reward would therefore seem to suggest that selling rallies from current levels at 115.10 may prove to be a more profitable play?"

Immediate support to the downside for EUR/JPY lies at Dec 28 highs 114.69, followed by NY session lows 114.55, and yesterday's lows at 114.14. To the upside, closest resistance shows at session highs 115.21, followed by yesterday's fresh 17-month highs at 116.00, and April 18 2011 lows at 116.44.




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

Referenced Stocks:



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