13 May 2014
EUR/JPY slowly trimming losses
FXStreet (Córdoba) - The EUR/JPY has been steadily moving up since the beginning of the week, although at a very slow pace.
The euro managed to halt its decline after hitting a 2-month low of 139.87 versus the yen Friday after slumping on the back of Draghi’s easing signals. The EUR/JPY has recovered ground over the last sessions, having climbed to a high of 140.83 in recent dealings.
At time of writing the pair is trading at 140.79, up 0.23% on the day. From a technical perspective, the EUR/JPY is in overbought territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
EUR/JPY levels to watch
In terms of technical levels,the pair could find next resistances at 140.86 (100-hour SMA), 141.00 (psychological level) and 141.19 (100-day SMA). On the flip side, supports can be found at 140.47 (May 13 low), 140.03 (May 12 low) and 139.87 (May 9 low).
The euro managed to halt its decline after hitting a 2-month low of 139.87 versus the yen Friday after slumping on the back of Draghi’s easing signals. The EUR/JPY has recovered ground over the last sessions, having climbed to a high of 140.83 in recent dealings.
At time of writing the pair is trading at 140.79, up 0.23% on the day. From a technical perspective, the EUR/JPY is in overbought territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
EUR/JPY levels to watch
In terms of technical levels,the pair could find next resistances at 140.86 (100-hour SMA), 141.00 (psychological level) and 141.19 (100-day SMA). On the flip side, supports can be found at 140.47 (May 13 low), 140.03 (May 12 low) and 139.87 (May 9 low).