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26 Jan 2015
EUR/JPY rebounds from 16-Month lows, back above 131
FXStreet (Mumbai) - The common currency trades lower against the Japanese yen, although rebounding from fresh 16-month lows as the euro plunged after Syriza, leftist anti-austerity party, secured a clear victory in Greece's parliamentary elections.
Currently, the EUR/JPY pair traded at 131.59 levels, down -0.30% on the day, pulling away from fresh sixteen month lows of 130.16 levels hit in the early trade hours. The cross in EUR/JPY continues to slide as EUR/USD slumped to fresh twelve year lows and now trades at 1.1184 levels. While the USD/JPY trades flat at 117.67 levels.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 131.91 and above which it could extend gains to at 132.40 levels. To the downside immediate support might be located at 130.75 levels below that at 130.16 levels.
Currently, the EUR/JPY pair traded at 131.59 levels, down -0.30% on the day, pulling away from fresh sixteen month lows of 130.16 levels hit in the early trade hours. The cross in EUR/JPY continues to slide as EUR/USD slumped to fresh twelve year lows and now trades at 1.1184 levels. While the USD/JPY trades flat at 117.67 levels.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 131.91 and above which it could extend gains to at 132.40 levels. To the downside immediate support might be located at 130.75 levels below that at 130.16 levels.