12 Feb 2014
EUR/JPY regains 139.00
FXStreet (Edinburgh) - The weakness around the single currency is now taking a toll on the EUR/JPY, dragging it to weekly lows in sub-139.00 levels.
EUR/JPY softer on B.Coeure’s comments
The EUR is getting hammered following ECB’s B.Coeure’s comments regarding the European central bank would be considering negative deposit rates ‘very seriously’. The cross nose-dived 60+ pips soon after the news hit the wires, although the decline seems to have found support near 138.80. Earlier on, EMU’s Industrial Production figures came in short of estimates during December, albeit the EUR remained indifferent.
EUR/JPY levels to watch
At the moment the cross is losing 0.70% ay 139.01 with the next support at 138.45 (daily cloud base) followed by 138.17 (low Feb.7) and then 138.00 (psychological level). On the flip side, a break above 140.05 (21-d MA) would target 140.09 (high Feb.11) en route to 140.33 (low Jan.20).
EUR/JPY softer on B.Coeure’s comments
The EUR is getting hammered following ECB’s B.Coeure’s comments regarding the European central bank would be considering negative deposit rates ‘very seriously’. The cross nose-dived 60+ pips soon after the news hit the wires, although the decline seems to have found support near 138.80. Earlier on, EMU’s Industrial Production figures came in short of estimates during December, albeit the EUR remained indifferent.
EUR/JPY levels to watch
At the moment the cross is losing 0.70% ay 139.01 with the next support at 138.45 (daily cloud base) followed by 138.17 (low Feb.7) and then 138.00 (psychological level). On the flip side, a break above 140.05 (21-d MA) would target 140.09 (high Feb.11) en route to 140.33 (low Jan.20).