Ikonfx.com (Beijing) - Ikonfx.com (Beijing) - Despite moving to the downside in the previous two days trade EUR/JPY pair has found some strength in early Asian trading. Pair bounced from session lows of 131.24 but seems to be consolidating in current trade, pair quoting at 131.78 best forex trade.

Move follows current medium term downtrend of the Euro amidst growing Eurozone concerns.

Nikkei seems to have followed this path, settling now slightly up from the open at 10726.16 points. In terms of support we take firstly the day low, followed by 130.80 (multi-tested resistance level on 16 Dec). For resistance levels we look at 133.60 the inception point of recent downtrend, and should we return to this level, next barrier 134.45 (Day High 4 Dec).

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Edited by Rachel