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EUR/JPY gives up daily gains, hovers near 6-month low

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 9, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - EUR/JPY recovered from a 6-month low and briefly climbed above the 133.00 level, but the euro failed to hold gains amid talks the ECB could cut deposit rate in December.

    EUR/JPY climbed to a daily high of 133.18 but came under pressure afterwards, surrendering most of its daily gains. With the downside contained by the 132.30 area, EUR/JPY entered a sideways phase over the last hours and it was last at 132.45, still up 0.14% on the day.

    EUR/JPY levels to watch

    In terms of technical levels, EUR/JPY could find immediate supports at 132.16 (Nov 9 low), 131.48 (6-month low Nov 6) and 130.25 (Apr 28 low). On the flip side, resistances are seen at 133.18 (Nov 9 high).
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