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EUR/JPY Stages Minor Recovery Jul 27 at 13:22 GMT

EUR/JPY Stages Minor Recovery

ForexSpace.com (London) - EUR/JPY is currently making headway up currency charts, testing the 96.00 psychological level as it moves off a 95.64 low.

The cross bounced after the EFSF and the ECB announced that they are preparing an action to support Italy and Spain.

The pair had moved lower after Bundesbank dampened hopes about the euro zone’s permanent rescue fund receiving a license to tap funds from central banks. It said: “A banking licence for the bailout fund would factually mean state financing via the printing press and would be a fatal route, which therefore is prohibited by the EU treaty.”

Analysts have now set resistances at 96.20, 96.40 and 96.75. Supports should be in place at 95.75 and 95.45.

Sarah Cox, Markets Writer. ForexSpace.com

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United States USD/JPY 94.8700 0.1900 0.20%
European Union EUR/USD 1.3349 -0.0015 -0.11%
United Kingdom GBP/USD 1.5700 -0.0019 -0.12%
Gold (USD/oz) 1,382.5200 -2.5400 -0.18%
Silver (USD/oz) 21.8405 -0.0283 -0.13%
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United States USD/CHF 0.9236 0.0009 0.09%
European Union EUR/GBP 0.8503 0.0000 0.00%
Australia AUD/USD 0.9522 -0.0027 -0.28%
United States USD/CAD 1.0181 -0.0006 -0.06%
European Union EUR/CHF 1.2329 -0.0002 -0.02%
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South Africa GBP/ZAR 15.6795 -0.0231 -0.15%
India INR/USD 0.0171 -0.0001 -0.37%
Taiwan TWD/USD 0.0334 -0.0001 -0.30%
New Zealand NZD/USD 0.7990 -0.0013 -0.16%
Hong Kong HKD/USD 0.1289 0.0000 0.00%
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