19 Jan 2015
EUR/JPY trades below weekly 100-SMA
FXStreet (Mumbai) - The EUR/JPY pair extended losses today after having closed below the 100-weekly SMA located at 136.36 in the last week.
The pair now trades 0.21% lower at 135.59 levels, compared to the previous session’s close at 135.99 levels. The single currency remains under pressure ahead of the European Central Bank (ECB) meet later this week. As per Danske Bank, the ECB is likely to announce government bond purchases of EUR750bn at the upcoming meeting. Meanwhile, the USD/JPY pair declined 0.265 to trade at 117.18 levels. Moreover, the Japanese Yen lacks cues from the Treasury yields, since the US markets are closed today on account of due to Martin Luther King day.
EUR/JPY Technical Levels
The immediate resistance is seen at 135.94, above which the pair could test 136.36 levels (weekly 100-SMA). Meanwhile, support is seen at 135.12 and 134.70 levels.
The pair now trades 0.21% lower at 135.59 levels, compared to the previous session’s close at 135.99 levels. The single currency remains under pressure ahead of the European Central Bank (ECB) meet later this week. As per Danske Bank, the ECB is likely to announce government bond purchases of EUR750bn at the upcoming meeting. Meanwhile, the USD/JPY pair declined 0.265 to trade at 117.18 levels. Moreover, the Japanese Yen lacks cues from the Treasury yields, since the US markets are closed today on account of due to Martin Luther King day.
EUR/JPY Technical Levels
The immediate resistance is seen at 135.94, above which the pair could test 136.36 levels (weekly 100-SMA). Meanwhile, support is seen at 135.12 and 134.70 levels.