29 Jan 2014
EUR/JPY fails to sustain gains
FXstreet.com (Córdoba) - The EUR/JPY rose during the Asian session as emerging markets fears eased a tad, giving risk sentiment a boost. However, gains were short-lived, with the EUR/JPY turning intraday negative most recently.
The EUR/JPY peaked at 141.26 earlier on the day and following a consolidation phase, it came under pressure and fell all the way to 140.40 before finding support. At time of writing, the EUR/JPY is trading at the 140.55 zone, 0.1% below its opening price. Investors will likely refrain from taking big positions ahead of the Fed decision.
EUR/JPY levels to watch
In terms of technical levels, the EUR/JPY could find immediate supports at 140.40 (Jan 29 low), 140.13 (Jan 28 low) and 140.00 (psychological level). On the flip side, resistances are seen at 141.26 (Jan 29 high), 141.76 (Jan 24 high) and 142.00 (psychological level).
The EUR/JPY peaked at 141.26 earlier on the day and following a consolidation phase, it came under pressure and fell all the way to 140.40 before finding support. At time of writing, the EUR/JPY is trading at the 140.55 zone, 0.1% below its opening price. Investors will likely refrain from taking big positions ahead of the Fed decision.
EUR/JPY levels to watch
In terms of technical levels, the EUR/JPY could find immediate supports at 140.40 (Jan 29 low), 140.13 (Jan 28 low) and 140.00 (psychological level). On the flip side, resistances are seen at 141.26 (Jan 29 high), 141.76 (Jan 24 high) and 142.00 (psychological level).