16 Feb 2015
EUR/JPY: Dropping a cent on Eurogroup headlines
FXStreet (Guatemala) - EUR/JPY is currently trading at 134.26 with a high of 135.56 and a low of 134.21.
EUR/JPY is offered on the back of the Eurogroup headlines trickling through with the latest being that the meeting has been put on hold after Greece has been unable to accept the wording and draft of proposed extension from the Eurogroup.
EUR/JPY crashed down by almost a full cent with EUR/USD the 1.14 handle and dropping over 60 pips on the news. Technically, the cross is supported at late Jan highs here with 132.50 coming in as next critical support to the downside. A move below the lows could then see the cross down to 132.00 psychological support and then on to 130.16/00 the recent low ahead of 128.52/34, the 200 month moving average and 38.2% retracement of the move up from 2012, as noted by Karen Jones, chief analyst at Commerzbank.
EUR/JPY is offered on the back of the Eurogroup headlines trickling through with the latest being that the meeting has been put on hold after Greece has been unable to accept the wording and draft of proposed extension from the Eurogroup.
EUR/JPY crashed down by almost a full cent with EUR/USD the 1.14 handle and dropping over 60 pips on the news. Technically, the cross is supported at late Jan highs here with 132.50 coming in as next critical support to the downside. A move below the lows could then see the cross down to 132.00 psychological support and then on to 130.16/00 the recent low ahead of 128.52/34, the 200 month moving average and 38.2% retracement of the move up from 2012, as noted by Karen Jones, chief analyst at Commerzbank.