EUR/JPY consolidates weekly losses

FXStreet (Córdoba) - The euro was trading flat against the yen on Friday, consolidating weekly losses. EUR/JPY rose during the European above 139.00 but failed to hold and pulled back, erasing gains. The retreated from the highs found support on Friday above 138.50.

On a weekly basis the pair was extending the reversal that started a week ago from 141.20 (4-month high). Price is back to the level it had two weeks ago.

EUR/JPY key level

On Thursday the decline of the pair found support around the 138.40 area that is key support, that also capped the downside last week and during July worked as a resistance.