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10 Jun 2014
EUR/JPY nears post-ECB lows
FXStreet (Córdoba) - The euro came under pressure during the European session, with the EUR/JPY slipping toward its 200-day SMA at 138.68.
The EUR/JPY has dropped nearly 70 pips throughout the day, hitting a low of 138.70 so far, although it has managed to hold above the post-ECB low scored last week at 138.66. Also the 200-day SMA at 138.68 stands as an important support for the cross. At time of writing, the EUR/JPY is trading at 138.75, recording a 0.44% loss on the day.
EUR/JPY levels to watch
As for technical levels, if the euro falls below 138.68/66 (200-day SMA/Jun 5 low), next supports are seen at 138.10 (ascendant trend line coming from the ytd low of 136.22) and 138.00 (psychological level). On the other hand, resistances could be found at 139.40 (Jun 10 high), 140.08 (Jun 9 high) and 140.48 (100-day SMA).
The EUR/JPY has dropped nearly 70 pips throughout the day, hitting a low of 138.70 so far, although it has managed to hold above the post-ECB low scored last week at 138.66. Also the 200-day SMA at 138.68 stands as an important support for the cross. At time of writing, the EUR/JPY is trading at 138.75, recording a 0.44% loss on the day.
EUR/JPY levels to watch
As for technical levels, if the euro falls below 138.68/66 (200-day SMA/Jun 5 low), next supports are seen at 138.10 (ascendant trend line coming from the ytd low of 136.22) and 138.00 (psychological level). On the other hand, resistances could be found at 139.40 (Jun 10 high), 140.08 (Jun 9 high) and 140.48 (100-day SMA).