27 Feb 2015
EUR/JPY falls to session low
FXStreet (Mumbai) - The better-than-expected US Q4 second estimate pushed the EUR/JPY lower to a fresh daily low of 133.46.
Yen relatively resilient
The exhaustion in the US Treasury yields around 2.02%, ensured the Japanese Yen stayed relatively resilient against the USD. The USD/JPY pair inched 0.04% higher at 119.47. On the other hand, the EUR/USD pair fell to 1.1181; down 0.15%, compared to the pre-US data level of 1.1230.
Moreover, the yields failed to rise significantly lending support the Yen as the second estimate showed GDP at 2.3%, compared to the initial estimate of 2.6%. However, the data managed to beat the expected rate of 2.0%, which weighed heavily on the shared currency. Consequently, the EUR/JPY cross was pushed lower to 133.46 levels.
EUR/JPY Technical Levels
The immediate support is seen at 133.00, under which losses could be extended to 132.53 (Feb. 4 low). On the flip side, resistance is seen at 134.00 and 134.76 levels.
Yen relatively resilient
The exhaustion in the US Treasury yields around 2.02%, ensured the Japanese Yen stayed relatively resilient against the USD. The USD/JPY pair inched 0.04% higher at 119.47. On the other hand, the EUR/USD pair fell to 1.1181; down 0.15%, compared to the pre-US data level of 1.1230.
Moreover, the yields failed to rise significantly lending support the Yen as the second estimate showed GDP at 2.3%, compared to the initial estimate of 2.6%. However, the data managed to beat the expected rate of 2.0%, which weighed heavily on the shared currency. Consequently, the EUR/JPY cross was pushed lower to 133.46 levels.
EUR/JPY Technical Levels
The immediate support is seen at 133.00, under which losses could be extended to 132.53 (Feb. 4 low). On the flip side, resistance is seen at 134.00 and 134.76 levels.