EUR/JPY struggles around 133.00

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 10, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - The euro found support after suffering an over 100-pip drop versus the yen during the European session, with the pair now consolidating near lows.

    EUR/JPY fell sharply, as the shared currency weakened across the board, and bottomed out at 132.76, its lowest level since the BCE decision last week. However, EUR/JPY managed to recover slightly, settling around the 133.00 mark over the last hours. At time of writing, EUR/JPY is trading at 133.06, recording a 0.61% loss on the day.

    EUR/JPY levels to consider

    In terms of technical levels, next supports are seen at 132.76 (Dec 10 low), 132.40 (10-day SMA) and then 131.78 (21-day SMA). On the other hand, resistances could be found at 134.10 (Dec 10 high/200-day SMA), 134.55/58 (100-day SMA/Dec 4 high) and then 135.00 (psychological level).

    What will 2016 bring to the Forex traders? Attend our Forex Forecast 2016 - The Panel with Ashraf Laidi, Valeria Bednarik, Boris Schlossberg, Adam Button, Ivan Delgado and Dale Pinkert. Register for the live event on Dec. 18thand get the recording too.

    For more information, read our latest forex news.

Share This Page

free forex signals