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24 Dec 2014
EUR/JPY trades near day’s high
FXStreet (Mumbai) - The EUR/JPY pair trades near the day’s high of 147.04 levels after having bounced-off from the 50-DMa and the 10-DMA located at 146.57 and 146.70 levels.
The pair has recovered losses to trade 0.09% higher today. Moreover, the US dollar is witnessing a correction against the basket of currencies, leading to a rise in the EUR/USD pair. However, the losses in the USD/JPY pair have been relatively less since the Japan's 30-year bond yield fell to 1.28%, the lowest since April 2013. Thus, the EUR/JPY has recovered losses to trade above 147.00 levels.
EUR/JPY Technical Levels
The pair has an immediate resistance at 147.16, above which gains could be extended to 147.80 levels. Meanwhile, support is seen at 146.70 and 146.57 levels.
The pair has recovered losses to trade 0.09% higher today. Moreover, the US dollar is witnessing a correction against the basket of currencies, leading to a rise in the EUR/USD pair. However, the losses in the USD/JPY pair have been relatively less since the Japan's 30-year bond yield fell to 1.28%, the lowest since April 2013. Thus, the EUR/JPY has recovered losses to trade above 147.00 levels.
EUR/JPY Technical Levels
The pair has an immediate resistance at 147.16, above which gains could be extended to 147.80 levels. Meanwhile, support is seen at 146.70 and 146.57 levels.