13 Jan 2015
EUR/JPY trades above 200-DMA
FXStreet (Mumbai) - The EUR/JPY pair recovered early losses to trade above the 200-DMA located at 140.19, although gains have been capped near the 5-DMA at 140.42 levels.
The pair currently trades 0.15% higher for the day at 140.27, after having recovered from the low of 139.47 hit earlier today. The German WPI data released today did little to move the single currency. Meanwhile, the USD/JPY pair has declined from a high of 118.85 to trade largely unchanged at 118.43 levels due to the weakness in the 10-year Treasury yield. Consequently, the gains in the EUR/JPY cross were capped around 5-DMA located at 140.42 levels. The pair may extend losses if the falling yields in the US push USD/JPY pair lower towards 140.00 levels.
EUR/JPY Technical Levels
The immediate support is seen at 140.19 (200-DMA), under which the pair could re-test 139.44 levels. Meanwhile, resistance is seen at 140.39 (5-DMA) and 140.56 (Jan. 6th low).
The pair currently trades 0.15% higher for the day at 140.27, after having recovered from the low of 139.47 hit earlier today. The German WPI data released today did little to move the single currency. Meanwhile, the USD/JPY pair has declined from a high of 118.85 to trade largely unchanged at 118.43 levels due to the weakness in the 10-year Treasury yield. Consequently, the gains in the EUR/JPY cross were capped around 5-DMA located at 140.42 levels. The pair may extend losses if the falling yields in the US push USD/JPY pair lower towards 140.00 levels.
EUR/JPY Technical Levels
The immediate support is seen at 140.19 (200-DMA), under which the pair could re-test 139.44 levels. Meanwhile, resistance is seen at 140.39 (5-DMA) and 140.56 (Jan. 6th low).