12 Jun 2015
EUR/JPY revisits previous session low
FXStreet (Mumbai) - The common currency remains under pressure ahead of the European session, taking the EUR/JPY below the previous session’s low at 138.46 levels.
Yen supported by BOJ member comments
The Japanese Yen was supported earlier on reports that BoJ board member Yutaka Harada said the central bank can hold off on expanding stimulus further even if inflation does not hit the 2% target by the first half of next fiscal year.
Meanwhile, the investors ignored the upbeat Japanese Industrial production data. The pair recovered part of its losses to trade at 138.68 from the low of 138.46.
EUR/JPY Technical Levels
The immediate resistance is seen at 139.00, above which the pair could target 139.50. On the flip side, a break below 138.41 (June. 10 low), under which the pair could drop to 137.60.
Yen supported by BOJ member comments
The Japanese Yen was supported earlier on reports that BoJ board member Yutaka Harada said the central bank can hold off on expanding stimulus further even if inflation does not hit the 2% target by the first half of next fiscal year.
Meanwhile, the investors ignored the upbeat Japanese Industrial production data. The pair recovered part of its losses to trade at 138.68 from the low of 138.46.
EUR/JPY Technical Levels
The immediate resistance is seen at 139.00, above which the pair could target 139.50. On the flip side, a break below 138.41 (June. 10 low), under which the pair could drop to 137.60.