EUR/JPY Approaching Resistance

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EUR/JPY Approaching Resistance

By Greg Michalowski on October 13, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

The EUR/JPY pair has depreciated since end of the summer, even though equity markets have continued to climb globally. The culprit for this move has been the USD which continues to be under pressure against the Yen, even as the risk outlook has apparently improved for investors and business.

Looking at the chart below we see the EUR/JPY pair approaching trendline resistance, which has held the pair down since August, while the 200 day moving average has acted as support.

eurjpy

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