10 Jul 2014
EUR/JPY hits 5-month low
FXStreet (Córdoba) - The EUR/JPY sell-off extended at the beginning opf the American session, with the pair falling to fresh 5-month lows as the yen continues to strengthen amid risk aversion and falling stocks.
The EUR/JPY came under strong pressure Thursday as the yen gains across the board and also weighed by a poor run of European industrial production data, having lost more than 100 pips throughout the day to hit a low of 137.57, last seen February 6. At time of writing, the pair is trading at 137.65, down 0.70% on the day.
EUR/JPY technical levels
As for technical levels, the EUR/JPY could find next supports at 137.57 (Jul 10 low), 137.00 (psychological level) and 136.75 (Feb 6 low). On the other hand, resistances are seen at 138.66 (Jul 10 high), 138.75 (Jul 9 high) and 139.00 (psychological level).
The EUR/JPY came under strong pressure Thursday as the yen gains across the board and also weighed by a poor run of European industrial production data, having lost more than 100 pips throughout the day to hit a low of 137.57, last seen February 6. At time of writing, the pair is trading at 137.65, down 0.70% on the day.
EUR/JPY technical levels
As for technical levels, the EUR/JPY could find next supports at 137.57 (Jul 10 low), 137.00 (psychological level) and 136.75 (Feb 6 low). On the other hand, resistances are seen at 138.66 (Jul 10 high), 138.75 (Jul 9 high) and 139.00 (psychological level).