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Forex: EUR/JPY still limited below 110.80

By FXstreet.com,  June 27, 2010, 10:25:00 PM EDT

FXstreet.com (Córdoba) - The recovery from last week lows around 109.50 has been capped at 110.80. EUR/JPY has been limited below this resistance level since last Thursday and has attempted to break above several times without succeeding.

During the present Asian session, the Euro-Yen cross has been gravitating around 110.60 with lack of definition, unable to break above 110.80 and supported by 110.45. EUR/JPY is currently trading at 110.64, 0.13% above its opening price.

"Firmed back in range to approach the 111.00 level, clearance here needed to trigger stronger rally to extend recovery from the 109.53/59 lows. Higher see more resistance at 111.37 and 111.63 then the 111.85/00 area. Support starts at 110.00/20 area and 109.80 ahead of 109.53/59 lows", said recently the 4CAST 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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