13 Feb 2014
EUR/JPY retreats further from 140.00
FXStreet (Córdoba) - During the American session the EUR/JPY recovered ground and in the last hours it has been hovering around 139.40. On Wednesday the pair lost 60 pips, suffering the worst decline since February 3.
EUR/JPY recovery at risk?
At the beginning of February the EUR/JPY bottomed at 136.15 (2-month low) and since then it has been moving to the upside recovering ground after falling sharply during January. In the last two trading days tested levels on top of 140.00 but it was unable to hold and on Wednesday pulled back.
During the recent European session a weak Euro pushed the EUR/JPY to 138.67 (February 12 low) but then rebounded and trimmed losses rising to 139.50. Despite the late recovery, finished in negative and currently trades below the price it opened the week, after losing upside momentum. The rejection from 140.00 could signal some exhaustion, putting the recovery at risk.
EUR/JPY recovery at risk?
At the beginning of February the EUR/JPY bottomed at 136.15 (2-month low) and since then it has been moving to the upside recovering ground after falling sharply during January. In the last two trading days tested levels on top of 140.00 but it was unable to hold and on Wednesday pulled back.
During the recent European session a weak Euro pushed the EUR/JPY to 138.67 (February 12 low) but then rebounded and trimmed losses rising to 139.50. Despite the late recovery, finished in negative and currently trades below the price it opened the week, after losing upside momentum. The rejection from 140.00 could signal some exhaustion, putting the recovery at risk.