13 Aug 2015
EUR/JPY corrects lower, finds support at 138.00
FXStreet (Córdoba) - The euro is falling against the yen for the first time since the beginning of the week, making a modest correction after rising 500 pips from last week lows.
EUR/JPY approached Wednesday highs during the Asian session but remained most of the time trading around 138.60. Price weakened during the European session and after the release of US economic data dropped to 138.06.
EUR/JPY still above key levels
The bearish correction so far found support above 138.00, that also capped the decline yesterday. The pair is holding above 138.00 and also on top of two important levels: the 137.70 and an uptrend line originated at April lows.
European Central Bank minutes and US data
The euro weakened after the release of ECB accounts. According to the document the central bank remains ready to act if needed and argued that is soon to confirm that inflation expectations are firmly anchored.
Price bottomed after the release of US reports amid a momentarily decline of EUR/USD below 1.1100 and since then is has been moving slowly off session lows.
EUR/JPY approached Wednesday highs during the Asian session but remained most of the time trading around 138.60. Price weakened during the European session and after the release of US economic data dropped to 138.06.
EUR/JPY still above key levels
The bearish correction so far found support above 138.00, that also capped the decline yesterday. The pair is holding above 138.00 and also on top of two important levels: the 137.70 and an uptrend line originated at April lows.
European Central Bank minutes and US data
The euro weakened after the release of ECB accounts. According to the document the central bank remains ready to act if needed and argued that is soon to confirm that inflation expectations are firmly anchored.
Price bottomed after the release of US reports amid a momentarily decline of EUR/USD below 1.1100 and since then is has been moving slowly off session lows.