Forex: EUR/JPY weekend plunge

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Forex: EUR/JPY weekend plunge

FITITOL--> FXstreet.com (Barcelona) - The France and Greece elections have taken its toll on the EUR/JPY. After opening around 60 pips below Friday’s closing price, the pair dropped further to 103.22 low. From there, a corrective movement took hold and has been retracing the losses.

The EUR/JPY has breached back above 104.00 psychological level and is approaching the 100-day moving average, at 104.53. Currently, it quotes at 104.15.

Mataf.net analysts point to resistances at 104.20, 104.60 and 105.10. On the downside, supports might be found at 103.75, 103.40 and 103.20.