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15 Jan 2015
EUR/JPY consolidates above 138 handle
FXStreet (Mumbai) - The single currency regained strength against the Japanese yen in the Asian session, recovering from fresh three-month lows reached in the previous session.
Currently, the EUR/JPY pair traded at 138.66 levels, up 0.26% on the day, consolidating between 138.29 and 138.79 levels. The cross in EUR/JPY trimmed previous gains as the Euro resumed its slide versus the USD ahead of Germany’s growth numbers. Meanwhile, yen also lost strength against the greenback as safe-haven bids diminished.
Markets now await Germany annual GDP data for fresh moves on the EUR/JPY cross.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 138.79 (Today’s High) and above which it could extend gains to at 139.20 levels. To the downside immediate support might be located at 138 levels below that at 137.63 (Oct 31 Low) levels.
Currently, the EUR/JPY pair traded at 138.66 levels, up 0.26% on the day, consolidating between 138.29 and 138.79 levels. The cross in EUR/JPY trimmed previous gains as the Euro resumed its slide versus the USD ahead of Germany’s growth numbers. Meanwhile, yen also lost strength against the greenback as safe-haven bids diminished.
Markets now await Germany annual GDP data for fresh moves on the EUR/JPY cross.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 138.79 (Today’s High) and above which it could extend gains to at 139.20 levels. To the downside immediate support might be located at 138 levels below that at 137.63 (Oct 31 Low) levels.