17 Feb 2015
EUR/JPY supported above 134
FXStreet (Mumbai) - EUR/JPY erased overnight gains and steadied in red at Tokyo open, largely on Euro weakness after Euro group finance minister failed to reach on a new Greek debt deal on Monday.
EUR/JPY below at 20-DMA
Currently, the EUR/JPY pair traded lower by -0.24% at 134.20 levels, upside restricted by the 5-DMA. The EUR/JPY edged lower as the Euro slipped versus the yen after talks between Greece and EU finance ministers saw no resolve over Greece's debt obligations on Monday, increasing the probabilities of a Greek default as it comes closer to running out of funds. Moreover, USD/JPY was offered at Tokyo open, which also added to the down in the EUR/JPY cross, after the yen remained underpinned in the US last session as US markets remain closed in celebration of President's Day.
The pair remains stuck below 20-DMA located at 134.27 levels as both the EUR and JPY loses equally against the USD on a broad based greenback recovery.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 134.95 (5-DMA) and above which it could extend gains to at 135.55 levels. To the downside immediate support might be located at 134 levels below that at 133.63 levels.
EUR/JPY below at 20-DMA
Currently, the EUR/JPY pair traded lower by -0.24% at 134.20 levels, upside restricted by the 5-DMA. The EUR/JPY edged lower as the Euro slipped versus the yen after talks between Greece and EU finance ministers saw no resolve over Greece's debt obligations on Monday, increasing the probabilities of a Greek default as it comes closer to running out of funds. Moreover, USD/JPY was offered at Tokyo open, which also added to the down in the EUR/JPY cross, after the yen remained underpinned in the US last session as US markets remain closed in celebration of President's Day.
The pair remains stuck below 20-DMA located at 134.27 levels as both the EUR and JPY loses equally against the USD on a broad based greenback recovery.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 134.95 (5-DMA) and above which it could extend gains to at 135.55 levels. To the downside immediate support might be located at 134 levels below that at 133.63 levels.