9 Dec 2014
EUR/JPY briefly falls below 148.00
FXStreet (Córdoba) - Euro managed to cut half of daily losses versus the yen during the European session as risk aversion eased and stocks bounced off lows.
EUR/JPY fell sharply throughout the Asian session, extending its pullback from 6-year highs scored Monday, and hit a low of 147.68 before finding support. However, with the subsequent bounce being capped by the 100-hour SMA at 148.30, the pair was confined to a narrow range over the last hours.
At time of writing, EUR/JPY is trading at 148.22, still 0.26% below its opening price. EUR/JPY reached a 6-year high of 149.77 the previous day but retreated following more hints of QE by ECB officials.
EUR/JPY levels to watch
In terms of technical levels, next resistances are seen at 149.77 (2014 high Dec 8) and 150.00 (psychological level), while supports could be found at 147.67 (daily low) and 147.28 (Dec 4 low).
EUR/JPY fell sharply throughout the Asian session, extending its pullback from 6-year highs scored Monday, and hit a low of 147.68 before finding support. However, with the subsequent bounce being capped by the 100-hour SMA at 148.30, the pair was confined to a narrow range over the last hours.
At time of writing, EUR/JPY is trading at 148.22, still 0.26% below its opening price. EUR/JPY reached a 6-year high of 149.77 the previous day but retreated following more hints of QE by ECB officials.
EUR/JPY levels to watch
In terms of technical levels, next resistances are seen at 149.77 (2014 high Dec 8) and 150.00 (psychological level), while supports could be found at 147.67 (daily low) and 147.28 (Dec 4 low).