13 Jan 2015
EUR/JPY bounces-off from 3-Month lows
FXStreet (Mumbai) - The single currency slid against the Japanese yen, shaving off gains from the previous session on the back of further falls in Euro versus the US dollar.
Currently, the EUR/JPY pair trades at 139.84 levels, down 0.15% on the day, after having clocked day’s high at 140.50 levels in the Asian trading. The cross in EUR/JPY remains under pressure after the Euro continues its slide against the US dollar as markets now brace for European Central Bank’s (ECB) additional quantitative easing later this month. The traders also remain wary ahead of European Court of Justice ruling on the legality of the ECB’s Open Market Transactions (OMT) tomorrow.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 140.50 (Today’s High) and above which it could extend gains to at 140.93 (Jan 12 High) levels. To the downside immediate support might be located at 139 levels below that at 138.38 levels.
Currently, the EUR/JPY pair trades at 139.84 levels, down 0.15% on the day, after having clocked day’s high at 140.50 levels in the Asian trading. The cross in EUR/JPY remains under pressure after the Euro continues its slide against the US dollar as markets now brace for European Central Bank’s (ECB) additional quantitative easing later this month. The traders also remain wary ahead of European Court of Justice ruling on the legality of the ECB’s Open Market Transactions (OMT) tomorrow.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 140.50 (Today’s High) and above which it could extend gains to at 140.93 (Jan 12 High) levels. To the downside immediate support might be located at 139 levels below that at 138.38 levels.