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4 Dec 2014
EUR/JPY rises modestly ahead of ECB
FXStreet (Córdoba) - The euro has managed to advance versus the yen Thursday ahead of the European Central Bank meeting, as it moves off fresh 2-year lows versus the dollar.
EUR/JPY climbed to a daily high of 147.81 coincidentally with a euro recovery across the board, but momentum faded as investors remain cautious ahead of the ECB announcement. While expectations of a full-blown QE have reduced, some analysts expect Draghi begins to lay the ground for such a move next year.
EUR/JPY levels to watch
At time of writing, EUR/JPY is trading at the 147.70 zone, still up 0.17% on the day, with immediate resistances lining up at 147.81 (daily high), 147.90 (Dec 3 high) and 148.18 (Dec 2 high). On the flip side, supports are seen at 147.39 (daily low), 147.02 (Dec 3 low) and 146.67 (Nov 28 low).
EUR/JPY climbed to a daily high of 147.81 coincidentally with a euro recovery across the board, but momentum faded as investors remain cautious ahead of the ECB announcement. While expectations of a full-blown QE have reduced, some analysts expect Draghi begins to lay the ground for such a move next year.
EUR/JPY levels to watch
At time of writing, EUR/JPY is trading at the 147.70 zone, still up 0.17% on the day, with immediate resistances lining up at 147.81 (daily high), 147.90 (Dec 3 high) and 148.18 (Dec 2 high). On the flip side, supports are seen at 147.39 (daily low), 147.02 (Dec 3 low) and 146.67 (Nov 28 low).