Forex: EUR/JPY range trading 131.77-132.05

By IBTimes Staff Reporter | December 29 2009 10:12 PM

FXstreet.com (London) - EUR/JPY is trading in a tight range this session, on ultra thin volume on the penultimate trading day of the year. Investors are still cautious over the Euro, with the recent downgrading of major European state still looming over the currency.

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The pair currently trades at 131.86. First support can be located around 131.77 (support level of current trading range this session), and on the upside resistance is at 132.05(resistance level of current range).

Down 4 pips this session, the medium term downtrend of the Euro looks set to continue.

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