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27 Mar 2014
EUR/JPY hits 3-week lows but remains above 140.00
FXStreet (Córdoba) - The EUR/JPY is falling for the third day in a row on Thursday but still holds above 140.00. Price bottomed on American hours at 140.20, the lowest price in three weeks and near Wall Street closing trades at 140.40, down 0.15% for the day.
The area around 140.00 is exposed as the bias favors the downside, with the pair unable to rise above 141.00 on Thursday and posting the lowest daily close since March 4.
Despite the moderate decline the Euro is consolidating below a trading range that capped prices in the last two weeks. Below 140.00 support levels might lie at 139.60, 139.00 and 138.80 (February 27 low). To the upside resistance could be located at 141.05 (March 27 high), 141.60 and the key 142.00.
The area around 140.00 is exposed as the bias favors the downside, with the pair unable to rise above 141.00 on Thursday and posting the lowest daily close since March 4.
Despite the moderate decline the Euro is consolidating below a trading range that capped prices in the last two weeks. Below 140.00 support levels might lie at 139.60, 139.00 and 138.80 (February 27 low). To the upside resistance could be located at 141.05 (March 27 high), 141.60 and the key 142.00.