5 Dec 2014
EUR/JPY falters ahead of 149.00
FXStreet (Córdoba) - EUR/JPY has extending gains into a second day Friday, as the euro benefited from ECB inaction and the yen remains as the worst performers across the board.
Following a downward correction, EUR/JPY resumed the upside and rose nearly 70 pips throughout the day, reaching a high of 148.90. However, the pair found resistance a few pips below its post-ECB peak of 148.94 and pulled back slightly. At time of writing, EUR/JPY is trading at 148.70, up 0.31% on the day.
Meanwhile, data showed Eurozone GDP grew by 0.8% YoY in the third quarter, in line with expectations and having little effect on the shared currency.
EUR/JPY levels to watch
In terms of technical levels, if EUR/JPY breaks above the 148.94/149.00 zone (Dec 4 high/psychological level) next resistances are seen at 149.12 (2014 high Nov 20) and not much till 150.00 (psychological level). On the other hand, supports could be found at 148.22 (daily low), 148.00 (psychological level) and 147.55 (10-day SMA).
Following a downward correction, EUR/JPY resumed the upside and rose nearly 70 pips throughout the day, reaching a high of 148.90. However, the pair found resistance a few pips below its post-ECB peak of 148.94 and pulled back slightly. At time of writing, EUR/JPY is trading at 148.70, up 0.31% on the day.
Meanwhile, data showed Eurozone GDP grew by 0.8% YoY in the third quarter, in line with expectations and having little effect on the shared currency.
EUR/JPY levels to watch
In terms of technical levels, if EUR/JPY breaks above the 148.94/149.00 zone (Dec 4 high/psychological level) next resistances are seen at 149.12 (2014 high Nov 20) and not much till 150.00 (psychological level). On the other hand, supports could be found at 148.22 (daily low), 148.00 (psychological level) and 147.55 (10-day SMA).