EUR/JPY downward correction with the Yen to Win

FXStreet – The increasing demand for the Yen, the EUR/JPY fell sharply, while the new 6-month high in the EUR/USD will be ignored. The EUR is experiencing against the Yen a strong downward correction after the yesterday 125,80 the highest level in a year has been reached.

The EUR/JPY continued to expand with a U.S. trade its downward movement and the new Low was formed at 123,72, where the trade to the beginning of the week took place. From yesterday’s High of the share price fell by more than -200 Pips. Today, the Couple has delivered its worst daily performance since the last few months.

The concerns in relation to the Situation between President Trump and the FBI have an impact on the market sentiment. The Don Jones lost -1,50 % to 20.650, and the Nasdaq broke to -2,12%. U.S. bonds rose and Gold climbed to more than $ 20. The General risk aversion speaks for the Yen as a safe haven.

EUR/JPY relevant levels

Supports lie at 123,30 (Deep 11. May), 123,00 (Deep-8. May) and 122,60 (High-2. May). On the other hand, Resistances can be found at 124,55 (Deep 16. May), 124,95 (High 15. May) and 125,50.

** FXStreet News Editorial, FXStreet**

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