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16 Dec 2013
EUR/JPY breaks Friday's low below 141.40
FXstreet.com (Bali) - The Yen has been strengthening along the Tokyo session, extending its upside correction vs G10 currencies.
Against the Euro, the Yen managed to trip light stops under Fridays low at 141.41, setting a new weekly low at 141.23. The breakout of a contraction wave in the Nikkei 225 led to the acceleration of gains in the Japanese Yen.
Technically, in the 4 hours chart, Valeria Bednarik, Chief Analyst at FXstreet.com, notes: "Indicators present a more neutral stance, right above their midlines, although moving averages head higher below current price, maintaining a bullish tone. Key support lies around 141.50 and below it, the pair may actually extend its slide, eyeing 140.40 price zone."
Against the Euro, the Yen managed to trip light stops under Fridays low at 141.41, setting a new weekly low at 141.23. The breakout of a contraction wave in the Nikkei 225 led to the acceleration of gains in the Japanese Yen.
Technically, in the 4 hours chart, Valeria Bednarik, Chief Analyst at FXstreet.com, notes: "Indicators present a more neutral stance, right above their midlines, although moving averages head higher below current price, maintaining a bullish tone. Key support lies around 141.50 and below it, the pair may actually extend its slide, eyeing 140.40 price zone."