Forex: EUR/JPY down 60 pips, banking restrictions boost Yen

By IBTimes Staff Reporter | January 21 2010 11:31 PM

FXstreet.com (London) - EUR/JPY has traded approximately flat this session, drifting gently to the downside before settling down around 60 pips, as Yen saw big gains on market turmoil. Pair has traded as low as 126.94 before bouncing to consolidate at its current level.

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Pair currently trading at 126.96. For resistance should the upside come into play further into the session, take nearby 127.53 (opening price and intraday high), for support levels take intraday low, 126.56 (previous session low). Pair is currently trading at 2 month lows as Yen comes into favour on a risk averse sentiment swing over tighter banking restrictions.

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