6 Jan 2015
EUR/JPY trades below 100-DMA
FXStreet (Mumbai) - The EUR/JPY pair fell today to trade below the 10-DMA located at 142.39 levels as the investors favored the Japanese Yen amid the risk aversion in the financial markets.
The pair currently trades 0.32% lower at 142.29, compared to the previous session’s close at 142.76 levels. The falling Treasury yields in the US helped the Japanese Yen gain almost 200 pips against the USD in a single day. Meanwhile, risk aversion in the equities saw the EUR/USD gain 50 odd pips. Consequently, the EUR/JPY cross extended the decline today to 142.29 levels. The pair may extend losses further if the PMI readings across the Eurozone due today, highlight worsening of the private sector activity in December.
EUR/JPY Technical Levels
The pair has an immediate support located at 142.07 (No. 10 low), under which the losses could be extended to 141.21 (Sep 19 high). Meanwhile, resistance is seen at 142.39 (100-DMA) and 143.00 levels.
The pair currently trades 0.32% lower at 142.29, compared to the previous session’s close at 142.76 levels. The falling Treasury yields in the US helped the Japanese Yen gain almost 200 pips against the USD in a single day. Meanwhile, risk aversion in the equities saw the EUR/USD gain 50 odd pips. Consequently, the EUR/JPY cross extended the decline today to 142.29 levels. The pair may extend losses further if the PMI readings across the Eurozone due today, highlight worsening of the private sector activity in December.
EUR/JPY Technical Levels
The pair has an immediate support located at 142.07 (No. 10 low), under which the losses could be extended to 141.21 (Sep 19 high). Meanwhile, resistance is seen at 142.39 (100-DMA) and 143.00 levels.