12 Jan 2015
EUR/JPY falls to 200-DMA
FXStreet (Mumbai) - The EUR/JPY currently trades at the 200-DMA located at 140.18 levels, after having faced rejection at the 5-DMA located at 140.62.
The single currency was hit by fresh selling pressure during the European session after German newspaper Handelsblatt reported clear European Central Bank (ECB) majority for sovereign purchases. However, the EUR/JPY cross erased gains mainly after the fall in the US treasury yields pushed the USD/JPY pair lower to 118.47 from the day’s high of 119.32. Moreover, the 10-yr yield in the US declined 3.1 basis points to 1.938%.
EUR/JPY Technical Levels
The immediate support located at 139.96, under which pair could fall to 139.67. Meanwhile, resistance is seen at 140.41 and 140.85 levels.
The single currency was hit by fresh selling pressure during the European session after German newspaper Handelsblatt reported clear European Central Bank (ECB) majority for sovereign purchases. However, the EUR/JPY cross erased gains mainly after the fall in the US treasury yields pushed the USD/JPY pair lower to 118.47 from the day’s high of 119.32. Moreover, the 10-yr yield in the US declined 3.1 basis points to 1.938%.
EUR/JPY Technical Levels
The immediate support located at 139.96, under which pair could fall to 139.67. Meanwhile, resistance is seen at 140.41 and 140.85 levels.