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8 Jan 2015
EUR/JPY falls below 141.00
FXStreet (Mumbai) - The EUR/JPY pair has extended losses to trade below 141.00 levels as the Eurozone is hit by a double blow in the form of economic malaise and geopolitical tensions.
The pair currently trades 0.16% lower at 140.96 levels, compared to the previous session’s close at 141.14 levels. The pair had advanced earlier today, although it could not sustain gains above 141.50 levels, since the EUR/USD fell below 1.18 levels for the first time in nearly a decade. On the other hand, gains in the USD/JPY pair have been relatively less as the gains in the 10-year yield in the US appears restricted at 2% levels.
EUR/JPY Technical Levels
The immediate support is located at 140.56 (Jan. 6 low), under which pair could test 200-DMA located at 140.16 levels. Meanwhile, immediate resistance is seen at 141.50 and 141.858 (5-DMA) levels.
The pair currently trades 0.16% lower at 140.96 levels, compared to the previous session’s close at 141.14 levels. The pair had advanced earlier today, although it could not sustain gains above 141.50 levels, since the EUR/USD fell below 1.18 levels for the first time in nearly a decade. On the other hand, gains in the USD/JPY pair have been relatively less as the gains in the 10-year yield in the US appears restricted at 2% levels.
EUR/JPY Technical Levels
The immediate support is located at 140.56 (Jan. 6 low), under which pair could test 200-DMA located at 140.16 levels. Meanwhile, immediate resistance is seen at 141.50 and 141.858 (5-DMA) levels.