EUR/JPY analysis: risk sentiment helps yen regaining the upside

Valeria Bednarik FXStreet

EUR/JPY Current price: 128.94

The EUR/JPY pair fell for a second consecutive day, trimming all of its weekly gains to end a few pips below 129.00, as the Japanese yen resumed its advance during the American session. Plummeting equities and yields, alongside with a terror attack in Barcelona fueled demand for the safe-haven currency in the US session, with the yield on the 10-year Treasury note down to 2.20% intraday, near Friday's close of 2.21%. The 4 hours chart shows that the price extended its decline below its 100 and 200 SMAs, with the shortest gaining downward traction above the largest, whilst technical indicators resumed their declines within bearish territory, favoring a downward extension for the upcoming session, moreover if Asian equities replicate the sour tone of their overseas counterparts.

Support levels: 128.80 128.40 128.00

Resistance levels: 129.20 129.60 130.00

View Live Chart for the EUR/JPY

Author

Valeria Bednarik

FXStreet

Valeria Bednarik was born and lives in Buenos Aires, Argentina. Her passion for math and numbers pushed her into studying economics in her younger years.

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