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4 Jul 2014
EUR/JPY back below 200-day SMA
FXStreet (Córdoba) - The EUR/JPY fell to fresh daily lows at the beginning of the European trade, in what would be the last full session of the week as US celebrates the Independence Day.
The EUR/JPY continued to suffer on the back of dovish comments from Draghi, dropping back below the 200-day SMA to hit a low of 138.75 in recent dealings. ECB President Draghi sounded slightly dovish yesterday and left the door open for quantitative easing (QE), weakening the euro.
The EUR/JPY is currently trading at the 138.83, recording a 0.16% loss on the day, having pulled back from a 3-week peak of 139.27 scored before the ECB meeting.
EUR/JPY technical levels
As for technical levels, to the downside the EUR/JPY could find next supports at 138.53 (Jul 2 low) and 138.09 (Jun 30 low). On the other hand, resistances are seen at 139.09 (200-day SMA), 139.27 (Jul 3 high) and 139.40 (Jun 10 high).
The EUR/JPY continued to suffer on the back of dovish comments from Draghi, dropping back below the 200-day SMA to hit a low of 138.75 in recent dealings. ECB President Draghi sounded slightly dovish yesterday and left the door open for quantitative easing (QE), weakening the euro.
The EUR/JPY is currently trading at the 138.83, recording a 0.16% loss on the day, having pulled back from a 3-week peak of 139.27 scored before the ECB meeting.
EUR/JPY technical levels
As for technical levels, to the downside the EUR/JPY could find next supports at 138.53 (Jul 2 low) and 138.09 (Jun 30 low). On the other hand, resistances are seen at 139.09 (200-day SMA), 139.27 (Jul 3 high) and 139.40 (Jun 10 high).