Forex: EUR/JPY back below 102.00
Forex pairs in this Article » EUR/JPY
FXstreet.com (San Francisco) - EURJPY slipped back below the 102.00 mark after slight bounce from overnight support at 101.80, last quoted in the 101.90 price zone as price hovers above dynamic support in the 50-day EMA (101.70). Further declines may encounter support at 101.10 (100-day EMA) and 100.55 (38.2%, 94.10/104.57 rally), while upside rallies may find resistance at 102.15 (23.6%) and 102.50 (Oct 29 low). Technical readings on the Weekly timeframe suggest the path of least resistance lies south, with RSI and CCI indicators aiming lower from overbought, or near-overbought levels.