FXstreet.com (San Francisco) - EUR/JPY has risen nearly 2% on the day, having rallied into the 109.00 price zone from 106.95 at the start of the global day.
This price action tracks EUR/USD gains as Greece launches its long-awaited debt swap amid concerns about its recent bailout. If the rally persists, EUR/JPY resistance may be found at 109.43 (12 July 2011 low) and, above there, 110.10 (50% retracement of the 123.31/97.17 decline). To the downside, support is noted at 108.29 (4 Nov high).
This price action tracks EUR/USD gains as Greece launches its long-awaited debt swap amid concerns about its recent bailout. If the rally persists, EUR/JPY resistance may be found at 109.43 (12 July 2011 low) and, above there, 110.10 (50% retracement of the 123.31/97.17 decline). To the downside, support is noted at 108.29 (4 Nov high).
