Forex: EUR/JPY in turbulence zone below 103.00

FXstreet.com (Barcelona) - EURJPY keeps moving under long term heavy resistance at current 102.94, bellow descending trend line coming from April 2011 highs at 123.18 that blocked the cross from keeping rising past Oct 22 at 6-month highs 104.60, and below support zone from mid-2010 to mid-2011 around the 106 figure, that even kept the cross from falling lower when the 2011 tsunami in Japan.

With all that, the cross is last at session lows, retracing from yesterday's highs at 103.16, still below weekly starting price by -0.33%, just like its component pair the EURUSD, and bouncing from yesterday's and weekly low at 102.19, same lows from Oct 30. With US presidential day going on and no macro data to be published in the Asia-Pacific, all eyes will be focused in the results coming from the US, that could start giving some light after 00:30 GMT when Ohio starts the count.

Immediate support to the downside for EURJPY comes at Monday's lows 102.45, followed by yesterday's/Oct 30 and weekly lows at 102.17, and Oct 12 highs at 101.90. To the upside, closest resistance shows at yesterday's highs/Oct19-22 lows 103.16, followed by starting weekly price/Oct 18-23 lows at 103.30, and Oct 25 lows at 103.50.