Forex: EUR/JPY falls to 114.20 ahead of Europe

FXstreet.com (Barcelona) - The EUR/JPY spent all the Asian session easing across the chart and losing the 115.00 handle. The cross has gone as low as 114.20 and is pushing for lower levels, down by -0.89% on the day. Japan's Nikkei Stock Average took profits after five upside days in a row as the Yen corrects its past weakness.

Japan Finance Minister Aso made clear that the government doesn't have to include an accord with the BoJ. Bloomberg had reported an estimation of  ¥10Trillion in regard to the size of the Fiscal 2012 Suplementary Budget, but Japan newspaper Yomiuri takes it further, ¥12/13Trillion.

The 200-week moving average, at 114.88. is a key juncture on the chart as well as a medium term upside objective and "we would not be surprised to see some consolidation in this zone", wrote Commerzbank analyst Karen Jones, pointing to support for dips at 111.43/57 (October 2011 high, March 2012 high and the short term uptrend).

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