3 Dec 2014
EUR/JPY holds above 147.00
FXStreet (Córdoba) - EUR/JPY fell sharply during the European session, weighed by disappointing Eurozone services PMIs, but managed to hold above the 147.00 level.
EUR/JPY lost nearly 80 pips throughout the day and hit a low of 147.04 after data showed Eurozone services PMI came in below expectations in November, while October retail sales grew less than forecasted. However, with the subsequent bounce being capped by 147.42, the pair entered a sideways phase.
EUR/JPY levels to watch
At time of writing, EUR/JPY is trading at 147.20, still down 0.26% on the day. On the downside, if the euro loses 147.00, next supports are seen at 146.67 (Nov 28 low) and 146.40 (Nov 27 low). On the upside, resistances could be found at 147.90 (daily high) and 148.18 (Dec 2 high).
EUR/JPY lost nearly 80 pips throughout the day and hit a low of 147.04 after data showed Eurozone services PMI came in below expectations in November, while October retail sales grew less than forecasted. However, with the subsequent bounce being capped by 147.42, the pair entered a sideways phase.
EUR/JPY levels to watch
At time of writing, EUR/JPY is trading at 147.20, still down 0.26% on the day. On the downside, if the euro loses 147.00, next supports are seen at 146.67 (Nov 28 low) and 146.40 (Nov 27 low). On the upside, resistances could be found at 147.90 (daily high) and 148.18 (Dec 2 high).