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16 Jan 2015
EUR/JPY facing southerly winds to test below 135 handle
FXStreet (Guatemala) - EUR/JPY is currently trading at 134.98 with a high of 135.29 and a low of 134.70, down 0.09% on the day.
EUR/JPY has been pressured to the downside and testing the durability of the 135 handle. The pair has recently crossed down below the figure printing the recent lows and marking the lowest price for almost three months. Stocks in the US finished up in the red, supporting the Yen, while the Euro manages a marginal come back onto the 1.16 handle. Bets remain to the downside in the pair, as demonstrated by the SNB's recent moves, betting against the single currency.
Technically, below here should the downside prevail, slippage towards the 55 week ma and 200 day ma could be on the cards and this brings in the yearly business levels of 134.15/133.50 as a target for the bears.
EUR/JPY has been pressured to the downside and testing the durability of the 135 handle. The pair has recently crossed down below the figure printing the recent lows and marking the lowest price for almost three months. Stocks in the US finished up in the red, supporting the Yen, while the Euro manages a marginal come back onto the 1.16 handle. Bets remain to the downside in the pair, as demonstrated by the SNB's recent moves, betting against the single currency.
Technically, below here should the downside prevail, slippage towards the 55 week ma and 200 day ma could be on the cards and this brings in the yearly business levels of 134.15/133.50 as a target for the bears.