Euro / yen remains at the mercy of the bears

Single European currency managed to establish a fresh session of the minima in the pair with the yen, while, although some bidy Y129.10/00 keep it from falling further, and it now holds around Y129.44, the mood remained negative, and dealers noted the presence of interest in selling in the area around Y129.60 and Y129.80/90. Larger orders, meanwhile, are close to Y130.20 in the field of Y130.60, and dealers believe that, while attempts to testing should not be ruled out, the growth of a pair in the direction of Y131/Y132, likely to attract the attention of sellers. They recall that the euro / yen earlier this month demonstrated the inability to overcome the 200-day moving average, and now, when in recent days, the technical picture has deteriorated markedly, the couple in danger of further decline. Bidy remain at Y129.10/00, but the rumor that observed following the foot and support the breakthrough in this field will open the way to Y128.25/20, and subsequently to Y126.