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EUR/JPY falls back below 133.00 and erases gains

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 15, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - The euro advanced versus the yen on Tuesday, although it cut failed to hold its early gains and fell back below the 133.00 level.

    EUR/JPY retreated from a peak of 133.52 and to a fresh daily low of 132.95 as the shared currency gave up gains across the board despite decent German/EMU ZEW Survey figures. At time of writing, the pair is trading at 132.98, virtually unchanged on the day.

    FX market is going through a quieter phase as the Federal Reserve begins its two-day meeting, with investors either sidelined or adopting a cautious stance ahead of the decision.

    EUR/JPY technical levels

    In terms of technical levels, immediate resistances could be found at 133.77 (Dec 11 high), 134.10 (200-day SMA) and 134.48 (100-day SMA). On the flip side, next supports are seen at 132.43 (Dec 14 low), 132.00 (psychological level) and 131.85 (21-day SMA).
    For more information, read our latest forex news.

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