26 Jun 2014
EUR/JPY rebounds sharply from 137.90
FXStreet (Córdoba) - The EUR/JPY managed to trim losses and is about to finish the day hovering around 138.40, with a decline of 35 pips but considerably far from the lows.
Earlier, as the EUR/USD dropped to 1.3575 and the USD/JPY fell toward 101.50 the EUR/JPY declined sharply to 137.90 but then rebounded and recovered ground during all US session. After Wall Street closing bell the pair extended the recovery and climbed to 138.48.
Despite the recovery from the lows the EUR/JPY had the worst day in two weeks. Key short term support around 138.00 remains intact while to the upside the area around 139.00 continues to offer strong resistance.
Earlier, as the EUR/USD dropped to 1.3575 and the USD/JPY fell toward 101.50 the EUR/JPY declined sharply to 137.90 but then rebounded and recovered ground during all US session. After Wall Street closing bell the pair extended the recovery and climbed to 138.48.
Despite the recovery from the lows the EUR/JPY had the worst day in two weeks. Key short term support around 138.00 remains intact while to the upside the area around 139.00 continues to offer strong resistance.