Forex: EUR/JPY below 122.00 on NY, capped by 122.60
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EUR/JPY
FXstreet.com (Barcelona) - The Euro is under intense speculation around the NY session, allowing a rally of the EURJPY back to 122.60 resistance only to fall back the 122.00 handle little after. Now with most of the relevant economic calendar data out, the cross is trading below 122.00, pressing towards the daily lows, circa 121.61.
Durable Goods data also indicates the change "excluding transportation", beating the 0.7% consensus as the actual figure was printed at 1.3%, lower than last month's 1.6%. Pending Home Sales have risen 6.9% in December, according to the National Association of Realtors. The rising pace is, however, is lower than the previous month, by 8.9%.
"Further long-term strength towards the strong resistance at 139.22 (05/06/2009 high) is likely", wrote MIG Bank analyst Bijoy Kar. In the meantime, Kar points to strong resistance at 123.33, and supports at 120.67 (25/01/2013 low) and 119.23 (intraday low, see also rising trendline).
Durable Goods data also indicates the change "excluding transportation", beating the 0.7% consensus as the actual figure was printed at 1.3%, lower than last month's 1.6%. Pending Home Sales have risen 6.9% in December, according to the National Association of Realtors. The rising pace is, however, is lower than the previous month, by 8.9%.
"Further long-term strength towards the strong resistance at 139.22 (05/06/2009 high) is likely", wrote MIG Bank analyst Bijoy Kar. In the meantime, Kar points to strong resistance at 123.33, and supports at 120.67 (25/01/2013 low) and 119.23 (intraday low, see also rising trendline).
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