- EUR / JPY hit a month-long high at 130.22 before turning lower.
- The euro remains under pressure in US hours, as the EUR / USD falls below 1.1300.
The EUR/JPY It failed to stay above 130.00 and is falling on Tuesday, weakened by a EUR / USD slide that is trading below 1.1300. The euro lost momentum during the American session.
Roll back from monthly highs
After the start of the American session, the EUR / JPY began to correct lower, before accelerating. Earlier on Tuesday, the EUR / JPY cross peaked at 130.22, the highest level since November 22. At time of writing, it is trading at 129.68, the daily low.
The fall of the EUR / USD below 1.1300 contributed to the fall of the euro. The cross is trading at 1.1290, breaking a three-day range that could point to further weakness in the future. The dollar gained momentum even amid appetite for risk.
On Wall Street, the Dow is up 0.43% and the S&P 500 0.10%, while the Nasdaq is down 0.12%. In Europe, most indices ended higher. The Santa rally continues, but the EUR / JPY was unable to benefit from it on Tuesday.
If the cross manages to regain a position above the 130.00 zone, the euro could look for more gains. On the downside, immediate support is seen around 129.60, followed by 129.10.
Technical levels
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