12 Jan 2015
EUR/JPY trades above 200-DMA
FXStreet (Mumbai) - The EUR/JPY pair has recovered losses to trade above the 200-DMA located at 140.29 amid lack of fresh fundamental triggers.
The pair currently trades largely unchanged for the day at 140.35 levels, after having recovered from a low of 140.03 hit earlier today. Moreover, the USD/JPY pair remains under pressure around 118.35 levels due to the weak treasury yields in the US, while the EUR/USD pair has inched up marginally to 1.1853 levels. Consequently, the EUR/JPY cross recovered losses ahead of the European session. No major economic data is due out of the Eurozone today. Thus, chart driven trading is likely to be seen in the EUR/JPY cross.
EUR/JPY Technical Levels
The pair has an immediate support located at 140.29 (200-DMA), under which the pair could re-test 140.00 levels. Meanwhile, resistance is seen at 140.56 and 140.76 (5-DMA) levels.
The pair currently trades largely unchanged for the day at 140.35 levels, after having recovered from a low of 140.03 hit earlier today. Moreover, the USD/JPY pair remains under pressure around 118.35 levels due to the weak treasury yields in the US, while the EUR/USD pair has inched up marginally to 1.1853 levels. Consequently, the EUR/JPY cross recovered losses ahead of the European session. No major economic data is due out of the Eurozone today. Thus, chart driven trading is likely to be seen in the EUR/JPY cross.
EUR/JPY Technical Levels
The pair has an immediate support located at 140.29 (200-DMA), under which the pair could re-test 140.00 levels. Meanwhile, resistance is seen at 140.56 and 140.76 (5-DMA) levels.