9 Dec 2014
EUR/JPY trades under 148 handle
FXStreet (Mumbai) - The Japanese yen extended gains from the previous session against the Euro and continues to trade higher as the Japanese currency regains strength versus US dollar.
Currently, the EUR/JPY pair trades at 147.88 levels, down -0.52%, compared to yesterday’s close of 148.66. The Japanese yen rebounded against the US dollar after falling to 7 years low in the previous session. The renewed strength in the yen is likely to weigh on the EUR/JPY pair with little movement seen in the EUR/USD pair.
EUR/JPY Technical Levels
To the upside, the next resistance is located at 148.25 (Dec 2 High), above which it could extend gains to 148.56 (20-day SMA) and from here to 148.97 (Dec 4 High) levels. To the downside, immediate support might be located at 147.86 (200-day MA) and below that at 147.25 (Dec 4 Low) and 146.98 (Dec 3 Low) levels.
Currently, the EUR/JPY pair trades at 147.88 levels, down -0.52%, compared to yesterday’s close of 148.66. The Japanese yen rebounded against the US dollar after falling to 7 years low in the previous session. The renewed strength in the yen is likely to weigh on the EUR/JPY pair with little movement seen in the EUR/USD pair.
EUR/JPY Technical Levels
To the upside, the next resistance is located at 148.25 (Dec 2 High), above which it could extend gains to 148.56 (20-day SMA) and from here to 148.97 (Dec 4 High) levels. To the downside, immediate support might be located at 147.86 (200-day MA) and below that at 147.25 (Dec 4 Low) and 146.98 (Dec 3 Low) levels.