- EUR / JPY remains in ranges near the highs of the year.
- Yen and euro with the majority of ranges in the previous days moved.
EUR / JPY is trading at the day’s lows at 126.02, with a very short-term bearish tone, after having encountered resistance at the 126.50 area. The euro is operating sideways in the run-up to important days.
To the drama for the Brexi, we must add that Thursday will be the meeting of the European Central Bank. Measures are expected from the central bank, in the form of an increase in the purchasing program and in long-term credits. Also on Thursday the summit of European leaders will begin where the budget and the recovery fund will be discussed.
EUR / JPY Long Term Resistance Braking
The EUR / JPY rally again met strong resistance between 126.50 and 127.00. In the previous one, each time it approached these levels, it then began a setback, which for the moment, are not occurring in a significant way.
In the short term, the EUR / JPY continues to trade sideways in a range that has resistance at 126.50 and support at 126.00. A close clearly above 126.50 or below 126.00 would point to continuity in the direction of the break.
Technical levels
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