Back
29 Dec 2014
EUR/JPY rejected at 147.00
FXStreet (Mumbai) - The EUR/JPY pair advanced today, although the pair failed to rise above the 147.00 mark after repeatedly failing to sustain gains above the same for the previous three consecutive sessions.
The pair currently trades at 146.658, compared to the previous session’s close of 146.61 levels. The Japanese Yen has unable to extend gains as the yields on Japanese government bond continue to weaken. The 10-year yield fell to as low as 0.3% on Dec. 26, while the 20-year and the 30-year yields slid to 20-month lows of 1.025% and 1.225% respectively. Meanwhile, the single currency remains weak as the market expect the European Central Bank to start sovereign QE in Q1 2015.
EUR/JPY Technical Levels
The pair has an immediate resistance located at 146.81 (5-DMA), above which another resistance is seen at 147.00 levels. Meanwhile, support is located at 146.54 (10-DMA) and 146.00 levels.
The pair currently trades at 146.658, compared to the previous session’s close of 146.61 levels. The Japanese Yen has unable to extend gains as the yields on Japanese government bond continue to weaken. The 10-year yield fell to as low as 0.3% on Dec. 26, while the 20-year and the 30-year yields slid to 20-month lows of 1.025% and 1.225% respectively. Meanwhile, the single currency remains weak as the market expect the European Central Bank to start sovereign QE in Q1 2015.
EUR/JPY Technical Levels
The pair has an immediate resistance located at 146.81 (5-DMA), above which another resistance is seen at 147.00 levels. Meanwhile, support is located at 146.54 (10-DMA) and 146.00 levels.