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11 Sep 2015
EUR/JPY off-weekly highs, back below 136
FXStreet (Mumbai) - The cross in the EUR/JPY faced rejection at weekly highs near 136.50 levels and subsequently retraced to sub 136 barrier, mainly driven by broad euro weakness.
EUR/JPY trims losses
Currently, the EUR/JPY pair trades -0.09% lower at 135.94, retreating from fresh session lows reached at 135.84 in the last hours. The EUR/JPY cross keeps the red as the shared currency edged lower versus the Japanese yen, despite the falling European indices, as attention now shifts towards the upcoming US data for fresh incentives.
However, the losses in EUR/JPY remains cushioned on the back of a weaker yen versus the US dollar amid divergent monetary policy outlooks between the Fed and the BOJ.
EUR/JPY Technical Levels
To the upside, the next resistance is located at 136.46 (Today’s High) levels and above which it could extend gains to 136.63 (Aug 28 High) levels. To the downside immediate support might be located at 135.37 (Aug 26 Low) below that at 135 levels.
EUR/JPY trims losses
Currently, the EUR/JPY pair trades -0.09% lower at 135.94, retreating from fresh session lows reached at 135.84 in the last hours. The EUR/JPY cross keeps the red as the shared currency edged lower versus the Japanese yen, despite the falling European indices, as attention now shifts towards the upcoming US data for fresh incentives.
However, the losses in EUR/JPY remains cushioned on the back of a weaker yen versus the US dollar amid divergent monetary policy outlooks between the Fed and the BOJ.
EUR/JPY Technical Levels
To the upside, the next resistance is located at 136.46 (Today’s High) levels and above which it could extend gains to 136.63 (Aug 28 High) levels. To the downside immediate support might be located at 135.37 (Aug 26 Low) below that at 135 levels.