22 Dec 2014
EUR/JPY trades above 147.00 handle
FXStreet (Mumbai) - The EUR/JPY pair rose above 147.00 levels ahead of the US session, after steadily rising over the 5-DMA and the 10-DMA located at 146.30 and 146.81 levels.
The pair currently trades at 147.01, after having clocked a high of 147.12 few minutes earlier. The single currency rallied today amid an empty data docket in the European session, while the Yen weakened after the Japanese 10-yr government bond yield fell to to 0.335%, the lowest since April 2013 low. Furthermore, the strength in the European equities weakened the safe haven Yen. The gains could be extended today if the US equity markets extend gains, which may push the USD/JPY pair above 120.00 levels. Plus, a better-than-expected Eurozone consumer confidence data due today may push support further gains in the EUR/JPY pair.
EUR/JPY Technical Levels
The pair has an immediate resistance at 147.56, above which gains could be extended to 148.00 levels. Meanwhile, support is seen at 146.81 (10-DMA) and 146.30 (5-DMA) levels.
The pair currently trades at 147.01, after having clocked a high of 147.12 few minutes earlier. The single currency rallied today amid an empty data docket in the European session, while the Yen weakened after the Japanese 10-yr government bond yield fell to to 0.335%, the lowest since April 2013 low. Furthermore, the strength in the European equities weakened the safe haven Yen. The gains could be extended today if the US equity markets extend gains, which may push the USD/JPY pair above 120.00 levels. Plus, a better-than-expected Eurozone consumer confidence data due today may push support further gains in the EUR/JPY pair.
EUR/JPY Technical Levels
The pair has an immediate resistance at 147.56, above which gains could be extended to 148.00 levels. Meanwhile, support is seen at 146.81 (10-DMA) and 146.30 (5-DMA) levels.