9 Jun 2015
EUR/JPY poised to test 140
FXStreet (Mumbai) - EUR/JPY lost ground and fell further into losses during the European session, largely on the back of renewed selling pressure witnessed in the dollar-yen pair while markets shrugged off in line with estimates EMU GDP Q1 data.
EUR/JPY rejected at 141
Currently, the EUR/JPY pair trades -0.19 lower at 140.29, meandering close to session lows at 140.20. EUR/JPY extends declines this session as EMU Q1 GDP data meeting expectations failed to lift the sentiment around the shared currency.
While, broad yen strength also continues to drag the cross lower largely on the back of persistent US dollar weakness versus its major competitors.
EUR/JPY Technical Levels
To the upside, the next resistance is located at 141.01 (Today’s High) levels and above which it could extend gains 141.50 levels. To the downside immediate support might be located at 139.50 (June 4 Low) below that at 139 levels.
EUR/JPY rejected at 141
Currently, the EUR/JPY pair trades -0.19 lower at 140.29, meandering close to session lows at 140.20. EUR/JPY extends declines this session as EMU Q1 GDP data meeting expectations failed to lift the sentiment around the shared currency.
While, broad yen strength also continues to drag the cross lower largely on the back of persistent US dollar weakness versus its major competitors.
EUR/JPY Technical Levels
To the upside, the next resistance is located at 141.01 (Today’s High) levels and above which it could extend gains 141.50 levels. To the downside immediate support might be located at 139.50 (June 4 Low) below that at 139 levels.