16 Jun 2015
EUR/JPY drops below 139.00
FXStreet (Mumbai) - The shared currency is being offered, taking the EUR/JPY below 139.00 levels ahead of the US session amid a volley of rumors, official news and comments on the Greek issue.
EUR/JPY rejected at 139.98
The pair turned lower from the high of 138.98 levels earlier today, after which offers pushed the pair to a low of 138.65 levels. The weakness in the German yields, coupled with the confusion over Greece issue triggered by rumors, official confirmations and rejections led to a spike in demand for the safe haven Japanese Yen.
Ahead in the day, the safe haven assets, including the Yen could continue to strengthen as the Greece issue remains far from solved. The bearish tone on the EUR may strengthen further in case the US housing data surpasses market expectations.
EUR/JPY Technical Levels
The immediate support is located at 138.00, under which the losses could be extended to 136.94. On the flip side, a break above 139.32 could see the pair re-test 140.00.
EUR/JPY rejected at 139.98
The pair turned lower from the high of 138.98 levels earlier today, after which offers pushed the pair to a low of 138.65 levels. The weakness in the German yields, coupled with the confusion over Greece issue triggered by rumors, official confirmations and rejections led to a spike in demand for the safe haven Japanese Yen.
Ahead in the day, the safe haven assets, including the Yen could continue to strengthen as the Greece issue remains far from solved. The bearish tone on the EUR may strengthen further in case the US housing data surpasses market expectations.
EUR/JPY Technical Levels
The immediate support is located at 138.00, under which the losses could be extended to 136.94. On the flip side, a break above 139.32 could see the pair re-test 140.00.