EUR/JPY erases gains, back to 129.00

The euro lost all gains versus the yen amid a decline of the European currency against most of its main rivals. EUR/JPY was correcting higher after last week slide to 128.05, the lowest in a month and now seems back under pressure. 

The pair peaked earlier today at 129.65, the highest since Wednesday and now is hovering around 129.00, around the same level it closed on Friday. 

From the fundamental perspective, no relevant economic reports were released on Monday. Tomorrow, Industrial Production data from Japan is due and also German GDP. Eurozone GDP data will be published on Wednesday and on Thursday, the minutes from the latest ECB meeting. 

EUR/JPY technical levels 

To the upside resistance levels might be located at 129.15 (Aug 11), 129.60/65 (Aug 14 high) and 130.00/10 (Aug 4 low). On the downside, support could be seen at 128.90 (daily low), 128.45/50 and 128.00/05 (Aug 11 low).