The EUR/JPY extends yesterday´s downside momentum, breaking under the 114.00 technical barrier over Europe and reaching as low as 113.63 at time of writing. The pair is some 300 pips below Tuesday´s weekly high of 116.73, as the common currency comes under heavy selling pressure amid the Greek bailout negotiations.
Giving a more technical analysis, the analysts of Deltastock.com suggests: “As we were waiting for the price a move, and it has been done and has already achieved one of the first bear levels specified in 113.40. This cross is below supports and has another aim lower at 111.70 yet, now will have to create supports to resume its path towards the lower areas. Today's entry is a short stop below the 113.40 and 115.30 limited entry.”
Tags: extends analysis breaking selling supports areas pressure
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