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2 Aug 2013
EUR/JPY trading at 131.50 region
FXstreet.com (New York) - The EUR/JPY technical cross has held onto the vast majority of its gains from yesterday, having bulled its way above its 50-day SMA.
EUR/JPY technical bias
In these moments, the EUR/JPY is negotiating an exchange of 131.47 during Asian trading, securing a marginal advance of +0.01%. In terms of the technical levels, the EUR/JPY will face resistance at 131.45 (20-day SMA), onto 131.56 (July 25 low), and 131.89 (July 25 high).
According to the Technical Analyst Team at ICN.com, “The EUR/JPY rallied above the key 129.70 level yesterday, reversing the trend to the upside and surging above the 50-day MA. With the pair breaching resistance at 131.25, the ending of the downside correction has been confirmed that has kicked off from the top 132.72.”
EUR/JPY technical bias
In these moments, the EUR/JPY is negotiating an exchange of 131.47 during Asian trading, securing a marginal advance of +0.01%. In terms of the technical levels, the EUR/JPY will face resistance at 131.45 (20-day SMA), onto 131.56 (July 25 low), and 131.89 (July 25 high).
According to the Technical Analyst Team at ICN.com, “The EUR/JPY rallied above the key 129.70 level yesterday, reversing the trend to the upside and surging above the 50-day MA. With the pair breaching resistance at 131.25, the ending of the downside correction has been confirmed that has kicked off from the top 132.72.”