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EUR/JPY rejected at 135 levels

FXStreet (Mumbai) - EUR/JPY erased mild gains from the Asian session and edged lower as the worries over global growth outlook re-emerged boosting demand for safe bets such as yen.

Risk-off trades resurface

Currently, the EUR/JPY pair traded at 134.63 levels, down -0.13% on the day, retracing from day’s high posted at 134.99 levels an hour ago. The weakness seen in EUR/JPY cross is largely on the back of a stronger yen versus the greenback, as weaker Chinese data and the impending Greece negations sparked risk-off sentiments, supporting the safe-haven yen. While, EUR/USD advanced in a bounce-back rally after falling on US data on Friday.

At the moment, USD/JPY trades -0.39% lower at 118.64, while EUR/USD rises 0.25% on the day to trade at 1.1344 levels.

EUR/JPY Levels to consider

To the upside, the next resistance is located at 134.99 and above which it could extend gains to at 135.21 levels. To the downside immediate support might be located at 134.25 levels below that at 133.80 levels.

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