7 Oct 2014
EUR/JPY falls to 1-month low
FXStreet (Córdoba) - EUR/JPY came under pressure during the European session hurt by a very disappointing German industrial production reading, and the selloff has extended over American hours, taking the pair to a fresh 1-month low.
EUR/JPY broke below the 137.00 level and fell to its lowest level in a month at 136.55 before finding support and recovering slightly. At time of writing, the pair is trading at 136.80, still down 0.61% on the day.
Meanwhile, the Bank of Japan decided to leave policy unchanged overnight, having little impact on yen crosses.
EUR/JPY technical levels
In terms of technical levels, EUR/JPY could find immediate supports at 136.55 (Oct 7 low), 135.80 (Sept 5 low) and 135.71 (2014 low Aug 8). on the flip side, resistances are seen 137.75 (Oct 6 & 7 highs) and 138.00/02 (psychological level/100-day SMA).
EUR/JPY broke below the 137.00 level and fell to its lowest level in a month at 136.55 before finding support and recovering slightly. At time of writing, the pair is trading at 136.80, still down 0.61% on the day.
Meanwhile, the Bank of Japan decided to leave policy unchanged overnight, having little impact on yen crosses.
EUR/JPY technical levels
In terms of technical levels, EUR/JPY could find immediate supports at 136.55 (Oct 7 low), 135.80 (Sept 5 low) and 135.71 (2014 low Aug 8). on the flip side, resistances are seen 137.75 (Oct 6 & 7 highs) and 138.00/02 (psychological level/100-day SMA).