- A slight rise in the yen boosts the EUR / JPY bearish continuity.
- Crossover falls to 129.40 and could go to test 129.00.
The EUR / JPY is falling for the second day in a row on Monday and has just dropped to 129.40, the lowest since Wednesday. ANDhe setback occurs in the face of stability in the euro and an advance in the yen.
The Japanese currency recovered ground due to an upward correction in Treasury bonds, while the euro did not register significant variations. USD / JPY is approaching 110.00, while EUR / USD remains in a small range between 1.1770 and 1.1750.
Technical overview
EUR / JPY remains bearish on the four-hour chart, consolidating below the 20 SMA. The key resistance is at 129.80 / 90, where a downtrend line is passing. The break of this level would negate the short-term bearish bias, enabling a return above 130.00.
In case of extending the bearish run, the next support for EUR / JPY is seen at 129.30 and below a new challenge at 129.00 would be expected.
Technical levels
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