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15 Jan 2015
EUR/JPY recovers back into 138 handle territory
FXStreet (Guatemala) - EUR/JPY is currently trading at 138.21 with a high of 138.37and a low of 138.08 and down 0.03% on the day.
EUR/JPY has recovered the losses that came about overnight on a number of counts. The cross dropped down to test the 137.00 level as the European Court of Justice ruling effectively cleared the legal path for ECB QE.
Markets have been favouring the Yen on the basis of risk off, while US retails sales were the culprit in the Us session. nonetheless, losses were partially offset with equities making a slight come back. Technically, on further downside, Karen Jones, chief analyst at Commerzbank is looking for slippage
to the 55 week ma and 200 day ma. "Failure here will target
134.15/133.50".
EUR/JPY has recovered the losses that came about overnight on a number of counts. The cross dropped down to test the 137.00 level as the European Court of Justice ruling effectively cleared the legal path for ECB QE.
Markets have been favouring the Yen on the basis of risk off, while US retails sales were the culprit in the Us session. nonetheless, losses were partially offset with equities making a slight come back. Technically, on further downside, Karen Jones, chief analyst at Commerzbank is looking for slippage
to the 55 week ma and 200 day ma. "Failure here will target
134.15/133.50".