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13 Apr 2015
EUR/JPY drops to near one-month low
FXStreet (Mumbai) - The sell-off in the shared currency due to Greece issue pushed the EUR/JPY pair to near one-month lows on Monday.
Hits session low below 127.00
The pair fell to a low of 126.96, which was just a few pips short of a one-month low set at 126.89. The EUR was aggressively sold after the German newspaper Bild reported Greek PM is considering election again in order to secure more majority and backing against the EU and its creditors. Analysts say, such an event could be more of a referendum rather than elections and thus increase the probability of a Grexit. Consequently, the EUR declined against the safe haven Yen.
EUR/JPY Technical Levels
The immediate support is seen at 126.89, under which losses could be extended to 126.50. On the flip side, a break above 127.50, could drive the pair higher to 128.00 (5-DMA).
Hits session low below 127.00
The pair fell to a low of 126.96, which was just a few pips short of a one-month low set at 126.89. The EUR was aggressively sold after the German newspaper Bild reported Greek PM is considering election again in order to secure more majority and backing against the EU and its creditors. Analysts say, such an event could be more of a referendum rather than elections and thus increase the probability of a Grexit. Consequently, the EUR declined against the safe haven Yen.
EUR/JPY Technical Levels
The immediate support is seen at 126.89, under which losses could be extended to 126.50. On the flip side, a break above 127.50, could drive the pair higher to 128.00 (5-DMA).