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Forex: EUR/JPY consolidates around 110.00

By FXstreet.com,  July 04, 2010, 11:14:00 PM EDT

FXstreet.com (Córdoba) - EUR/JPY seems to have entered into a consolidation phase after rallying from the 107.50 area to 110.71 where it peaked last session.

The pair has been moving into a range between 109.90 (intra-session low) and 110.30 (intra-session high) after opening the day at its NY closing price around 110.20. Currently EUR/JPY is trading at 110.18, pretty close to its weekly opening level.

"Consolidating below the 110.72 high though dips see support at 109.47/55 area then 109.13, previous high. Higher low sought for further upside test, clearance over 110.72 high will target the 110.82/90 resistance. Beyond see 111.37 and 111.63", said the 4CAST analyst team.




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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