24 Jan 2014
EUR/JPY hits 7-week low
FXstreet.com (Córdoba) - The EUR/JPY fell sharply and hit fresh 7-week lows during the European session amid yen strength as turmoil in some emerging markets sparked risk aversion.
The EUR/JPY lost more than 120 pips throughout the day accelerating the decline after the break of the 141.00 mark. The euro-yen cross fell as low as 140.25 in recent dealings and it remains vulnerable near lows, recording a 0.8% loss on the day.
EUR/JPY levels to watch
If the EUR/JPY breaks below 140.25, next supports are seen at 140.00 (psychological level) and 139.70 (Nov 22 and Dec 2 highs). On the other hand, resistances could be found at 141.75 (Jan 24 high), 142.00 (psychological level) and 142.35 (21-day SMA).
The EUR/JPY lost more than 120 pips throughout the day accelerating the decline after the break of the 141.00 mark. The euro-yen cross fell as low as 140.25 in recent dealings and it remains vulnerable near lows, recording a 0.8% loss on the day.
EUR/JPY levels to watch
If the EUR/JPY breaks below 140.25, next supports are seen at 140.00 (psychological level) and 139.70 (Nov 22 and Dec 2 highs). On the other hand, resistances could be found at 141.75 (Jan 24 high), 142.00 (psychological level) and 142.35 (21-day SMA).