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7 Jan 2015
EUR/JPY back above 141 handle
FXStreet (Mumbai) - The single currency advanced against the Japanese yen in the late Asian session, rebounding from four consecutive days of losses, as risk-on moods return, dulling the appeal of the yen as a safe-haven currency.
Currently, the EUR/JPY pair trades at 141.20 levels, up 0.26% on the day, after having clocked day’s high at 141.50 earlier in the day. The cross in EUR/JPY continues to extend gains largely on yen weakness as the Japanese currency loses its safe-haven demand versus the US dollar amid return of appetite for riskier assets ahead of Fed Meeting minutes release later in the day.
Moreover, traders may remain wary ahead of set of Euro zone economic data releases due out shortly.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 141.50 (Today’s High) and above which it could extend gains to at 142.80 (Jan 6 High) levels. To the downside immediate support might be located at 141 levels below that at 140.69 (Jan 5 Low) levels.
Currently, the EUR/JPY pair trades at 141.20 levels, up 0.26% on the day, after having clocked day’s high at 141.50 earlier in the day. The cross in EUR/JPY continues to extend gains largely on yen weakness as the Japanese currency loses its safe-haven demand versus the US dollar amid return of appetite for riskier assets ahead of Fed Meeting minutes release later in the day.
Moreover, traders may remain wary ahead of set of Euro zone economic data releases due out shortly.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 141.50 (Today’s High) and above which it could extend gains to at 142.80 (Jan 6 High) levels. To the downside immediate support might be located at 141 levels below that at 140.69 (Jan 5 Low) levels.