FXstreet.com (Barcelona) - EUR/JPY is currently retracing at 94.90 from NY session highs at 95.22, following Moody's outlook change to negative for core euro zone countries such as Germany, released just minutes ago. The cross managed to recover from a multi year low at 94.19 during the early London trade, figure not seen since early December year 2000.
The cross is still down for the week -0.54% as it has not been able to fill the opening gap lower with which started yesterday in Asia-Pacific selling off after bad news coming from Europe during the weekend set risk aversion rule for the entire Monday in the region. Local share markets sold off hard, worsen by China further economic slow down fears hitting the wires. EUR/JPY is lower by -1.67% from previous Asia-Pacific open last Friday.
Immediate resistance to the upside for EUR/JPY comes at recent NY session highs 95.22, followed by Friday's close and low at 95.40, and previous 2012 lows June 01 at 95.56. For the downside, closest support shows at current levels as London session highs at 94.85, followed by NY session lows at 94.38, and yesterday's and fresh 2012 lows at 94.23.
The cross is still down for the week -0.54% as it has not been able to fill the opening gap lower with which started yesterday in Asia-Pacific selling off after bad news coming from Europe during the weekend set risk aversion rule for the entire Monday in the region. Local share markets sold off hard, worsen by China further economic slow down fears hitting the wires. EUR/JPY is lower by -1.67% from previous Asia-Pacific open last Friday.
Immediate resistance to the upside for EUR/JPY comes at recent NY session highs 95.22, followed by Friday's close and low at 95.40, and previous 2012 lows June 01 at 95.56. For the downside, closest support shows at current levels as London session highs at 94.85, followed by NY session lows at 94.38, and yesterday's and fresh 2012 lows at 94.23.
