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14 Jan 2015
EUR/JPY bounces off 137.00
FXStreet (Córdoba) - The euro came under renewed pressure Wednesday and extended losses across the board after the European Court of Justice interim ruling stated that unconventional measures from the ECB, namely OMT, are legal, paving the way for QE next week.
EUR/JPY pushed lower and briefly dropped below 137.00 to hit a 2 ½-month low of 136.99 in recent dealings. The pair however, has managed to move away from lows with Eurozone industrial production data helping the recovery.
Eurozone industrial production printed its third monthly rise in a row, increasing by 0.2% in November, although down 0.4% from October 2013.
EUR/JPY levels to watch
EUR/JPY is currently trading at the 137.60 zone, recording a 0.86% daily loss, with immediate supports seen at 136.99 (daily low), 136.85 (Oct 28 2014 low) and 136.58 (Oct 27 2014 low) . On the other hand, resistances could be found at 137.98/138.00 (10-hour SMA/psychological level) and 138.40 (20-hour SMA).
EUR/JPY pushed lower and briefly dropped below 137.00 to hit a 2 ½-month low of 136.99 in recent dealings. The pair however, has managed to move away from lows with Eurozone industrial production data helping the recovery.
Eurozone industrial production printed its third monthly rise in a row, increasing by 0.2% in November, although down 0.4% from October 2013.
EUR/JPY levels to watch
EUR/JPY is currently trading at the 137.60 zone, recording a 0.86% daily loss, with immediate supports seen at 136.99 (daily low), 136.85 (Oct 28 2014 low) and 136.58 (Oct 27 2014 low) . On the other hand, resistances could be found at 137.98/138.00 (10-hour SMA/psychological level) and 138.40 (20-hour SMA).