Forex: EUR/JPY extends decline below 106.00

Posted 4/13/2012 1:03 PM from


Renewed Euro weakness amid mounting concerns over Spain, sent EUR/JPY back to levels below 106.00 during the New York trade, retreating from a high of 107.08 scored during the Asian session. 

EUR/JPY dropped more than 130 pips from highs to a low of 105.74 where the slide has been contained. At time of writing, EUR/JPY is trading at the 105.90 region, 0.7% below its opening price. 

If the pair falls below 105.75, next supports could be found at 105.45 (Apr 11 low), and 105.00. On the upside, resistances are seen at 106.30, 106.50 and 107.10.

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