Back
9 Feb 2015
EUR/JPY falls below 134.00 levels
FXStreet (Mumbai) - The EUR/JPY pair below 134.00 levels after Greece’s PM reaffirmed rejection of the bailout before the emergency EU meeting scheduled on Feb 11.
Yen gains due to risk aversion
The Japanese Yen has been steadily rising since the Asian session after the weak Chinese trade data showed a further slowdown in the world’s second largest economy. The gains were extended further after the Greek PM Alexis Tsipras said it is impossible to service the debt as long as the international creditors insist in austerity. Moreover, his statements come before EU partner’s emergency meet scheduled for Feb. 11 in Brussels, when Finance Minister Yanis Varoufakis faces his 18 euro-area counterparts.
EUR/JPY Technical Levels
The pair has an immediate support located at 133.78 (10-DMA), under which losses could be extended to 133.00 levels. On the flip side, resistance is seen at 134.30 (hourly 100-SMA) and 134.54 (hourly 50-SMA) levels.
Yen gains due to risk aversion
The Japanese Yen has been steadily rising since the Asian session after the weak Chinese trade data showed a further slowdown in the world’s second largest economy. The gains were extended further after the Greek PM Alexis Tsipras said it is impossible to service the debt as long as the international creditors insist in austerity. Moreover, his statements come before EU partner’s emergency meet scheduled for Feb. 11 in Brussels, when Finance Minister Yanis Varoufakis faces his 18 euro-area counterparts.
EUR/JPY Technical Levels
The pair has an immediate support located at 133.78 (10-DMA), under which losses could be extended to 133.00 levels. On the flip side, resistance is seen at 134.30 (hourly 100-SMA) and 134.54 (hourly 50-SMA) levels.