EUR/JPY, USD/JPY retreat from recent highs
EUR/JPY and USD/JPY retreat from recent highs amid low-volume festive season trading.
EUR/JPY drops further
EUR/JPY trades back at its 55-day simple moving average (SMA) at ¥162.55, having tested and been rejected by the 200-day SMA at ¥164.65 for three consecutive days.
The December uptrend line at ¥162.32 may offer support, but if it is breached, the mid-October low at ¥164.65 may be revisited. Minor resistance sits at the 19 December high at ¥163.80, with more significant resistance at Monday’s ¥164.90 peak.
EUR/JPY daily chart
USD/JPY keels over
USD/JPY is retreating from last week’s ¥158.08 six-month high, slipping towards the 20 November high at ¥155.88. If this level does not act as support, the 7 November high at ¥154.71 may do so.
Immediate resistance can be spotted at the ¥156.74 November peak and further resistance at last week’s ¥158.08 high.
USD/JPY daily chart
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