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Euro/Yen Falls to Yen Buying Level

Posted by Joseph Trevisani on May 24, 2013 11:20:00 AM

The euro/yen made a low at 130.37  below the 21 day moving average at 130.61 which could indicate further weakness with the dollar/yen hovering just beneath the 101.00 level.   Buyers in dollar/yen at 101.00 on the first drop below the moving average could not hold the yen or the cross. 

There is support in the cross at 130.30  and 130.00, yesterday's low was 129.97.  Selling is at 131.00 and 131.65.  Current rate 130.40

 

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