Forex: EUR/JPY retraces from highs and trades below 130.50

FXstreet.com (San Francisco) - After rising around 110 pips from 129.70 in the Asian and European session, the EUR/JPY break above the 130.50 level and reached fresh highest since January 1st at 130.81. But the pair was unable to hold highs and the Euro traded lower against the Yen test the 130.00 area.

Currently the pair is trading at 130.15, 0.23% below opening price. The pair is slightly bullish according to the FXstreet.com trend index. Indicators such as MACD, CCI and Momentum remain bullish while the Stochastic is bearish in the 1-hour chart.

Below the 130.00, next supports are at 129.70 and 129.50. On the upside, resistances are at 130.50 130.80 and 132.00 level.