6 Mar 2015
EUR/JPY steadies at day’s low
FXStreet (Mumbai) - The EUR/JPY pair is trading steady around the day’s low set at 131.6, as the shared currency failed to gain strength despite an upward revision of its fourth quarter growth rate.
EUR/JPY: weak bond yields hurt the EUR
The pair continues to trade weak as the benchmark bond yields across the Eurozone declined in the wake of the ECB’s press conference. Except the German 10-year yield, which trades flat, the benchmark yields across much of the Eurozone have declined. The weak yields have pushed the EUR/USD pair lower by 0.54% to 1.0968 levels. Meanwhile, the Japanese Yen has stayed resilient ahead of the US non-farm payrolls report; down just 0.08% at 120.04 per USD. Consequently, the EUR/JPY pair weakened 0.63% to trade at 131.67 levels.
EUR/JPY Technical Levels
The immediate support is seen at 131.23, under which losses could be extended to 130.72. On the other hand, resistance is seen at 132.34 and 132.94 (5-DMA).
EUR/JPY: weak bond yields hurt the EUR
The pair continues to trade weak as the benchmark bond yields across the Eurozone declined in the wake of the ECB’s press conference. Except the German 10-year yield, which trades flat, the benchmark yields across much of the Eurozone have declined. The weak yields have pushed the EUR/USD pair lower by 0.54% to 1.0968 levels. Meanwhile, the Japanese Yen has stayed resilient ahead of the US non-farm payrolls report; down just 0.08% at 120.04 per USD. Consequently, the EUR/JPY pair weakened 0.63% to trade at 131.67 levels.
EUR/JPY Technical Levels
The immediate support is seen at 131.23, under which losses could be extended to 130.72. On the other hand, resistance is seen at 132.34 and 132.94 (5-DMA).