EUR/JPY comes down from 135.50

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 8, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - After clinching session highs in the mid-135.00s during the European morning, EUR/JPY has now quickly given away some gains and returned to the 134.80 area.

    EUR/JPY surrenders gains post-ECB

    The cross has quickly abandoned the area of daily tops after the European Central Bank has struck a dovish tone in its Accounts today. The ECB still sees downside risks for inflation figures in the euro area, while it remains ready to act on the current QE programme in case of need.

    The unexpected tone from the central bank has hurt EUR and prompted sellers to step in and drag the cross back to the 134.80 area, near session lows.

    EUR/JPY significant levels

    The cross is now losing 0.01% at 134.85 with the next support at 134.44 (200d-sma) followed by 133.86 (up trend from early Sep.) and finally 133.08 (multi-month low Sep.4). On the upside, a surpass of 135.91 (55-d sma) would aim for 136.08 (down trend from mid-Aug tops) and then 137.44 (monthly peaks Sep.17).
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