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11 Mar 2015
EUR/JPY off fresh 2-year lows around 129.65
FXStreet (Mumbai) - EUR/JPY prolongs its downtrend and heads towards lowest levels since 2013 as the ongoing slump in the shared currency fails to provide any respite to the cross.
EUR/JPY supported above 129 handle
Currently, the EUR/JPY cross traded flat at 129.66 levels, retreating from fresh two year lows reached at 129.24 levels. The cross in EUR/JPY remains pressured as the massive QE launch and impending Greek negotiations continue to keep the shared currency suppressed. However, a relatively weaker yen cushions the downside in EUR/JPY after Japan’s machine orders slide in January.
As of writing, USD/JPY trades higher by 0.24% at 121.42 levels, while EUR/USD trades lower by -0.17% at 1.0677.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 184 and above which it could extend gains to at 184.50 levels. To the downside immediate support might be located at 129.24 (Today’s Low) levels below that at 127.95 (Aug 2013 Low) levels.
EUR/JPY supported above 129 handle
Currently, the EUR/JPY cross traded flat at 129.66 levels, retreating from fresh two year lows reached at 129.24 levels. The cross in EUR/JPY remains pressured as the massive QE launch and impending Greek negotiations continue to keep the shared currency suppressed. However, a relatively weaker yen cushions the downside in EUR/JPY after Japan’s machine orders slide in January.
As of writing, USD/JPY trades higher by 0.24% at 121.42 levels, while EUR/USD trades lower by -0.17% at 1.0677.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 184 and above which it could extend gains to at 184.50 levels. To the downside immediate support might be located at 129.24 (Today’s Low) levels below that at 127.95 (Aug 2013 Low) levels.