FXstreet.com (Barcelona) - EUR/JPY is currently losing ground fast as Tokyo opened selling-off with Nikkei at the moment down by -1.43%, slightly above the 8500 points, and SHARP stock collapsing more than -25% alone. The cross is testing new session lows at 95.07 following USD/JPY also at new session lows around the 78.10. According to John Noonan, Head of IFR Markets, hedge funds are selling AUD/USD while Tokyo names are selling AUD/JPY.
Still despite the hard sellings, the cross is above yesterday's lows at 94.92 following huge disappointment coming from ECB's Draghi not delivering what markets were expecting after his past week's words, putting too many conditionals in his speech, what brought euro down from day highs to day lows reversing in a blink of an eye, EUR/JPY from 97.00 round highs to 94.92 lows, all in less than 4 hours.
Immediate support to the downside for EUR/JPY eyed at yesterday's lows 94.92, followed by July 26 lows 94.63, and July 23/24 fresh 2012 lows at 94.23/11. For the upside, closest resistance show at July 23/25 highs 95.21, followed by July 30 lows 95.54, and July 27 lows 95.64.
Still despite the hard sellings, the cross is above yesterday's lows at 94.92 following huge disappointment coming from ECB's Draghi not delivering what markets were expecting after his past week's words, putting too many conditionals in his speech, what brought euro down from day highs to day lows reversing in a blink of an eye, EUR/JPY from 97.00 round highs to 94.92 lows, all in less than 4 hours.
Immediate support to the downside for EUR/JPY eyed at yesterday's lows 94.92, followed by July 26 lows 94.63, and July 23/24 fresh 2012 lows at 94.23/11. For the upside, closest resistance show at July 23/25 highs 95.21, followed by July 30 lows 95.54, and July 27 lows 95.64.
