- The euro rose earlier today to the highest level in five days, but failed to break 128.50 and lost strength. The slide extended below the 20-hour moving average and it is testing 128.00.
- Technical indicators in the short-term point to more losses ahead of the Asian session with the next relevant intraday support seen at 127.70 (Oct 30 low).
- A recovery back above 128.15 would remove the negative momentum while a consolidation on top of 128.50, more gains are likely.
EUR/JPY 15-minute hour chart-636765200401905587.png)
Spot rate: 128.00
High: 128.43
Low: 127.72
Resistance 1: 128.15
Resistance 2: 128.50
Resistance 3: 128.70
Support 1: 127.95
Support 2: 127.70
Support 3: 127.40
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