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Forex: EUR/JPY drops below 117.50 to 4-day lows

By FXstreet.com,  January 15, 2013, 08:22:00 PM EDT

FXstreet.com (San Francisco) - The EUR/JPY has come under renewed selling pressure after markets in Tokyo and Sydney have opened, having just broken below overnight support at 117.60 to reach new 4-day lows sub-117.50, last quoted at 117.40. Immediate support is noted at 117.05 (78.6% Fibo), then 116.70 (200-hr EMA) and 115.93 (2 Jan high). Bullish recoveries may find resistance at 118.25 (intraday), 118.85 (14 Jan low).




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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