4 Mar 2015
EUR/JPY gives on fresh lows in EUR/USD
FXStreet (Guatemala) - EUR/JPY is currently trading at 132.41 with a high of 133.86 and a low of 132.40.
EUR/JPY is stablising the fall to these lows, below the 133.20 resistance having lost the handle on a broad based drop in the euro. The price action comes in the dollar once again, taking the euro for another slide and through the 1.1120 support and on to below the 1.1080 support, marking out a fresh monthly low ahead of the ECB this week.
Technically, EUR/JPY remains under pressure and is extending the downside from 149.78 on the longer term charts and Karen Jones, chief analyst at Comerzbank explained that given that last week saw failure ahead of the 38.2% retracement at 137.65 and well ahead of the 200 day moving average at 139.24, the pair remains bearish. "This is viewed negatively and we look for a slide towards initial support towards the 132.00 2nd February low and then the 130.20 recent low. The 20th February low at 133.56 is being eroded currently immediate pressure is on the downside."
EUR/JPY is stablising the fall to these lows, below the 133.20 resistance having lost the handle on a broad based drop in the euro. The price action comes in the dollar once again, taking the euro for another slide and through the 1.1120 support and on to below the 1.1080 support, marking out a fresh monthly low ahead of the ECB this week.
Technically, EUR/JPY remains under pressure and is extending the downside from 149.78 on the longer term charts and Karen Jones, chief analyst at Comerzbank explained that given that last week saw failure ahead of the 38.2% retracement at 137.65 and well ahead of the 200 day moving average at 139.24, the pair remains bearish. "This is viewed negatively and we look for a slide towards initial support towards the 132.00 2nd February low and then the 130.20 recent low. The 20th February low at 133.56 is being eroded currently immediate pressure is on the downside."