Forex: EUR/JPY dips to 101.00

FXstreet.com (San Francisco) - EUR/JPY has been in a steady decline since the weekly opening, having slipped to a session low of 100.97 from an earlier high of 101.43 as an increase in global risk aversion stimulated broad demand for JPY safety.

The paring saw an early boost from weekend reports that the Greek government and the IIF were close to a new debt-swap deal agreement, and the focus in the session ahead will be on an upcoming EU Economic Summit, as well as an Italian bond auction scheduled for 1000 GMT.

EUR/JPY is now quoted in the 101.00 price zone, down 0.33% so far on the day. If the selloff continues in the session ahead, support is noted at 100.80 (intraday), while immediate resistance is seen at 101.13 (intraday).

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

RELATED TOPICS