21 Jan 2015
EUR/JPY posts fresh session lows post BOJ
FXStreet (Mumbai) - The common currency edges fell against the Japanese yen, snapping four consecutive days of gains as the yen strengthened after Bank of Japan made no adjustments in its monetary policy.
Currently, the EUR/JPY pair traded at 136.34 levels, down -0.68% on the day, close to fresh daily lows of 136.16 hit few minutes ago. The cross in EUR/JPY slipped as the yen rallied against the US dollar after the BOJ sounded more optimistic on economic growth prospects and lowered their inflation forecasts to account for sharp declines in oil prices.
Traders now eye BOJ press conference for Kuroda’s speech to gauge further moves on the cross.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 137.12 (Today’s High) and above which it could extend gains to at 137.67 levels. To the downside immediate support might be located at 136 levels below that at 135.70 levels.
Currently, the EUR/JPY pair traded at 136.34 levels, down -0.68% on the day, close to fresh daily lows of 136.16 hit few minutes ago. The cross in EUR/JPY slipped as the yen rallied against the US dollar after the BOJ sounded more optimistic on economic growth prospects and lowered their inflation forecasts to account for sharp declines in oil prices.
Traders now eye BOJ press conference for Kuroda’s speech to gauge further moves on the cross.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 137.12 (Today’s High) and above which it could extend gains to at 137.67 levels. To the downside immediate support might be located at 136 levels below that at 135.70 levels.