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14 Jan 2015
EUR/JPY hits a new 3-month low
FXStreet (Mumbai) - The single currency extended losses against the Japanese yen for the fourth day in a row, as the yen bulls took charge against the US dollar.
Currently, the EUR/JPY pair trades at 137.80 levels, down -0.72% on the day, after having hit fresh three month low at 137.75 levels few minutes ago. The cross in EUR/JPY remains pressured largely on yen strength versus the US dollar as investors flocked towards safer assets such as yen amid ongoing rout in commodities. The cross is expected to remain lower ahead of European Court of Justice ruling on the legality of the ECB’s Open Market Transactions (OMT) tentative for today.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 138.88 (Today’s High) and above which it could extend gains to at 139.20 levels. To the downside immediate support might be located at 137.63 (Oct 31 Low) levels below that at 137.20 (Oct 29 Low) levels.
Currently, the EUR/JPY pair trades at 137.80 levels, down -0.72% on the day, after having hit fresh three month low at 137.75 levels few minutes ago. The cross in EUR/JPY remains pressured largely on yen strength versus the US dollar as investors flocked towards safer assets such as yen amid ongoing rout in commodities. The cross is expected to remain lower ahead of European Court of Justice ruling on the legality of the ECB’s Open Market Transactions (OMT) tentative for today.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 138.88 (Today’s High) and above which it could extend gains to at 139.20 levels. To the downside immediate support might be located at 137.63 (Oct 31 Low) levels below that at 137.20 (Oct 29 Low) levels.