Back
20 Dec 2013
EUR/JPY tests resistance at 142.50
FXstreet.com (Córdoba) - The EUR/JPY continues to move sideways in a range between 142.15 and 142.50 since Thursday's American session. The Yen remains weak in the market despite a 0.50% decline in the Nikkei 225 and BoJ decision on monetary policy.
Despite the fact that the EUR/USD hit a fresh weekly low at 1.3631 during the current Asian session, the Euro managed to hold above 142.20 against the Yen. Recently reached a fresh daily high at 142.50 as the USD/JPY rises above 104.40, to new 5-year highs.
EUR/JPY technical outlook
A positive tone prevails, suggesting some consolidation before the next leg up, point out Valeria Bednarik, Chief Analyst at Fxstreet.com. Bednarik locates support levels at 142.20, 141.70 and 141.40 and resistance at 142.80, 143.40 and 144.00.
Despite the fact that the EUR/USD hit a fresh weekly low at 1.3631 during the current Asian session, the Euro managed to hold above 142.20 against the Yen. Recently reached a fresh daily high at 142.50 as the USD/JPY rises above 104.40, to new 5-year highs.
EUR/JPY technical outlook
A positive tone prevails, suggesting some consolidation before the next leg up, point out Valeria Bednarik, Chief Analyst at Fxstreet.com. Bednarik locates support levels at 142.20, 141.70 and 141.40 and resistance at 142.80, 143.40 and 144.00.