8 Jan 2015
EUR/JPY erases gains from the Asian session
FXStreet (Mumbai) - The single currency steadied against the Japanese yen, shaving off gains from the previous session on the back of a plunging Euro versus the US dollar.
Currently, the EUR/JPY pair trades at 141.34 levels, up 0.11% on the day, after having clocked day’s high at 141.72 levels in the Asian trading. The cross in EUR/JPY remains under pressure after the Euro failed to find bottom and plunged to fresh nine-year lows against the US dollar, breaking below the 1.18 handle. However, a falling yen against the greenback may restrict the downside in the EUR/JPY cross.
Moreover, traders may remain wary ahead of set of Euro zone PPI and Retail Sales data due out shortly.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 141.72 (Today’s High) and above which it could extend gains to at 142.80 (Jan 6 High) levels. To the downside immediate support might be located at 141 levels below that at 140.69 (Jan 5 Low) levels.
Currently, the EUR/JPY pair trades at 141.34 levels, up 0.11% on the day, after having clocked day’s high at 141.72 levels in the Asian trading. The cross in EUR/JPY remains under pressure after the Euro failed to find bottom and plunged to fresh nine-year lows against the US dollar, breaking below the 1.18 handle. However, a falling yen against the greenback may restrict the downside in the EUR/JPY cross.
Moreover, traders may remain wary ahead of set of Euro zone PPI and Retail Sales data due out shortly.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 141.72 (Today’s High) and above which it could extend gains to at 142.80 (Jan 6 High) levels. To the downside immediate support might be located at 141 levels below that at 140.69 (Jan 5 Low) levels.