Euro / yen has started today with a leap to a fresh peak, not seen since April 7, but the bulls attempt to continue the offensive in the second half of the Asian session were unsuccessful, and the beginning of the trading in Europe has launched a pair of lower, feeling for a decline in major stock indexes. Currently, the single European currency remains near the minima of the session, trying to use bidy about Y132.35/15 for stabilization, and to exclude some recovery is not, however, Commerzbank currency strategists advise to pay attention to the fact that the couple Breaks line support around Y132.60 and risks are now biased in favor of continuing decline in the direction of Y130.85 and Y129.60. Dealers, however, encouraged to draw attention to the fact that in the afternoon schedule of a potential Medvezhye absorption, and its materialization would signal the potential for further reduction.
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