21 Jan 2015
EUR/JPY bears allow the unit to breath a little
FXStreet (Guatemala) - EUR/JPY is currently trading at 137.14 with a high of 137.34 and a low of 137.08 and up 0.04% on the day.
EUR/JPY is steady on the bid ahead of the Tokyo open and more over, we await the BoJ statement further along the session. Then, further into the week, the ECB will take centre stage ahead of Sunday's Greek election as another driver for the pair. The Yen will benefit from uncertainty as a safe haven while the Euro's fundamental and technical picture remains bearish.
EUR/JPY is technically capped at the 150 mark as it defends the downside currently, but more broadly, the pair is bearish and 138.00 remains a barrier ahead of 138.80. To the downside, Karen Jones, chief analyst at Commerzbank explained "Below 134.15 targets the 133.50/23.6% retracement of the move up from 2012."
EUR/JPY is steady on the bid ahead of the Tokyo open and more over, we await the BoJ statement further along the session. Then, further into the week, the ECB will take centre stage ahead of Sunday's Greek election as another driver for the pair. The Yen will benefit from uncertainty as a safe haven while the Euro's fundamental and technical picture remains bearish.
EUR/JPY is technically capped at the 150 mark as it defends the downside currently, but more broadly, the pair is bearish and 138.00 remains a barrier ahead of 138.80. To the downside, Karen Jones, chief analyst at Commerzbank explained "Below 134.15 targets the 133.50/23.6% retracement of the move up from 2012."