FXS: Forex: EUR/JPY extends bounce from daily lows
FXstreet.com (Córdoba) - The euro pared losses against the yen during the American session as even though the shared currency remains pressured by market sentiment, threaten of a possible Japanese downgrade by Fitch weighed on the yen.
EUR/JPY bottomed out at a 6-day low of 96.31 from where it bounced, having recovered over 50 pips to currently quote at the 96.80/85 zone, still down 0.2% on the day.
In terms of technical levels, next supports could be found at 96.30/25 (daily low, 21-day SMA), 96.00 (psychological level) and 95.70 (daily low Aug 1). On the other hand, resistances are seen at 97.00, 97.30 and 97.80.
