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28 Jan 2015
EUR/JPY hits session lows
FXStreet (Mumbai) - The EUR/JPY pair fell to session lows as the single currency extended losses against the greenback, while the Japanese Yen remains resilient.
Technical failure at 134.30
The spot faced rejection for the second time earlier today around 134.30 levels, post which the losses were extended to trade below the hourly 100-SMA level at 133.37. The pair has also breached the rising trend line on the hourly chart and the hourly 50-SMA located at 133.51, thereby pushing the hourly RSI to 51.50 levels.
Moreover, the EUR/USD pair declined to 1.1320; down 0.52%, while the USD/JPY trades largely unchanged at 117.78 levels. The weakness in the Treasury yields helped the Yen rebound from 118.26 levels to the current level of 117.56 per dollar. Consequently, the EUR/JPY fell to 133.30; down 0.61% for the day.
EUR/JPY Technical Levels
The pair faces immediate resistance at 133.37 (hourly 100-SMA) and 133.51 (hourly 50-SMA). The breach of the same could see the pair re-test 133.95 levels. Meanwhile, support is seen at 132.97 and 132.48 levels.
Technical failure at 134.30
The spot faced rejection for the second time earlier today around 134.30 levels, post which the losses were extended to trade below the hourly 100-SMA level at 133.37. The pair has also breached the rising trend line on the hourly chart and the hourly 50-SMA located at 133.51, thereby pushing the hourly RSI to 51.50 levels.
Moreover, the EUR/USD pair declined to 1.1320; down 0.52%, while the USD/JPY trades largely unchanged at 117.78 levels. The weakness in the Treasury yields helped the Yen rebound from 118.26 levels to the current level of 117.56 per dollar. Consequently, the EUR/JPY fell to 133.30; down 0.61% for the day.
EUR/JPY Technical Levels
The pair faces immediate resistance at 133.37 (hourly 100-SMA) and 133.51 (hourly 50-SMA). The breach of the same could see the pair re-test 133.95 levels. Meanwhile, support is seen at 132.97 and 132.48 levels.