EUR/JPY weaker, re-visiting 112.80

The softer tone in the single currency is now driving EUR/JPY back again to the 112.80 area.

EUR/JPY in multi-day lows

In the meantime, the cross has dropped to weekly lows and continues to retrace last week’s spike to levels just above the 117.00 handle amidst a renewed selling bias around the common currency and the Japanese safe haven.

Nothing worth mentioning on the data front, with all the attention on the BoE monetary policy meeting and tomorrow’s Non-farm Payrolls in the US economy, as the main drivers for sentiment in the near term.

EUR/JPY relevant levels

At the moment the cross is down 0.08% at 112.80 facing the immediate support at 112.48 (low Aug.4) followed by 110.54 (low Jul.8) and then 109.47 (post-Brexit low Jun.24). On the other hand, a breakout of 113.98 (50% Fibo of 109.47-118.49) would expose 115.32 (20-day sma) and finally 117.17 (high Jul.27).