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19 Mar 2015
EUR/JPY retesting 130
FXStreet (Mumbai) - EUR/JPY remains in red in the early European morning, recovering from lows reached in the previous session, largely on the back of broad euro weakness after the recent strength seen yesterday post FOMC statement.
EUR/JPY rises from 129.59
Currently, the EUR/JPY cross traded -0.47% lower at 129.96 levels, having previously posted session lows at 129.59. The cross in EUR/JPY remains weak as the shared currency continues to get smashed by the greenback on broad based US dollar strength.
On the other hand, the downside in EUR/JPY is cushioned as the yen also weakened against the US dollar, surrendering overnight gains. At the moment, USD/JPY trades 0.32% higher at 120.49 and EUR/USD records a -0.82% loss on the day at 1.0778 levels.
EUR/JPY Levels to consider
To the upside, the next resistance is located 130.84 and above which it could extend gains to at 131.53 (March 18 High) levels. To the downside immediate support might be located at 129.59 (Today’s Low) levels below that at 129 levels.
EUR/JPY rises from 129.59
Currently, the EUR/JPY cross traded -0.47% lower at 129.96 levels, having previously posted session lows at 129.59. The cross in EUR/JPY remains weak as the shared currency continues to get smashed by the greenback on broad based US dollar strength.
On the other hand, the downside in EUR/JPY is cushioned as the yen also weakened against the US dollar, surrendering overnight gains. At the moment, USD/JPY trades 0.32% higher at 120.49 and EUR/USD records a -0.82% loss on the day at 1.0778 levels.
EUR/JPY Levels to consider
To the upside, the next resistance is located 130.84 and above which it could extend gains to at 131.53 (March 18 High) levels. To the downside immediate support might be located at 129.59 (Today’s Low) levels below that at 129 levels.