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Forex pairs in this Article » USD/JPY (Athens) - EUR/JPY is consolidating around 130.50 area, after Asian indices declined for a fifth day.

EUR/JPY is trending the upper way on Asian indices jitters

Asian indices declined for a fifth consecutive day, as investors awaited details of discussions at the Federal Reserve’s last policy meeting to gauge when the central bank might pare its bond purchases. Investors fear that the outing will confirm the beginning of the “tapering”, in September. What’s more, Japan raised severity of latest Fukushima leak to level 3 ("serious" radiation "incident") on international scale. In Europe, a quiet economic calendar has seen price remain rangebound. At the time of writing, the EUR/JPY is trading at 130.57, up 0.08%. Earlier, at 7:00 GMT hours had hit a high of 130.98.

Technical outlook on EUR/JPY

The Trend Index shows the pair to be slightly bearish. Daily pivot point support can be found at 129.90, 128.71, 128.39 and resistance at 130.80 131.10, 131.10, respectively.
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