9 Jan 2015
EUR/JPY consolidates below 141.00
FXStreet (Córdoba) - The euro extends its consolidation phase versus the yen after hitting a 2-month low at 140.55 on Wednesday.
EUR/JPY managed to halt the decline and entered a sideways phase that has extended over the last days as investors refrain from pushing the shared currency lower as EUR/USD trades at 9-year lows and EUR/CHF holds just above the SNB floor.
Political uncertainty in Greece and prospects the ECB would launch a bond-buying program later this month are the main drivers behind the euro fall.
EUR/JPY technical levels
At time of writing, EUR/JPY is trading at 140.85, 0.15% below its opening price, with immediate supports seen at 140.55 (Jan 7 low), 140.39 (Nov 3 2014 low) and 140.23 (200-day SMA). On the other hand, resistances could be found at 141.35 (daily high) and 141.43 (100-day SMA) ahead of 141.71 (Jan 8 high).
EUR/JPY managed to halt the decline and entered a sideways phase that has extended over the last days as investors refrain from pushing the shared currency lower as EUR/USD trades at 9-year lows and EUR/CHF holds just above the SNB floor.
Political uncertainty in Greece and prospects the ECB would launch a bond-buying program later this month are the main drivers behind the euro fall.
EUR/JPY technical levels
At time of writing, EUR/JPY is trading at 140.85, 0.15% below its opening price, with immediate supports seen at 140.55 (Jan 7 low), 140.39 (Nov 3 2014 low) and 140.23 (200-day SMA). On the other hand, resistances could be found at 141.35 (daily high) and 141.43 (100-day SMA) ahead of 141.71 (Jan 8 high).