Mizuho said increasing bearish momentum in the euro / yen

As the currency analysts Mizuho, bearish momentum in a pair euro / yen was strong, but support at 130.00 while holding back the further development of downward movement. Nevertheless, the bank continues to adhere to the bearish forecast for the couple and prefer to sell at the best exchange rate, reinforcing the position at 131.00, with a stop above 132.45 and 129.60 short-term goals and 127.75. At the moment the euro / yen traded at 130.03. Couple nearly recovered from recent lows near Y129.65 on rising U.S. stock indexes, as well as buying a pair of large U.S. bank, and rose above the mark Y130.00. Dealers report triggered stops the breakout of this level, bringing the couple climbed in the area above Y130.30 (61.8% of Y130.72 - 129.66), after which the upward momentum somewhat weakened. Breakthrough at this level led to a further rise in the euro / yen to a mark Y130.50, and then to the field Y130.70/80.