23 Apr 2014
EUR/JPY reverses from 142.00 and falls to 4-day lows
FXStreet (Córdoba) - The Euro weakened in the last hours while the Yen strengthened pushing the EUR/JPY to the downside. The price broke below 141.40 and tumbled to 141.17 hitting the lowest price since April 17.
Earlier, on European hours and following data from the euro zone the EUR/JPY peaked at 141.99, the highest level in 2 weeks. But the 142.00 area capped the upside and the Euro reversed to the downside.
Outlook for the EUR/JPY
Price action continues to move within ranges but still holds a bullish bias, recovering from last week lows. Below 141.00, Momentum could favor the downside in the short term.
To the upside the key resistance continues to be the 142.00 area and above at 143.50 while to the downside the strong support lies around 140.00.
Earlier, on European hours and following data from the euro zone the EUR/JPY peaked at 141.99, the highest level in 2 weeks. But the 142.00 area capped the upside and the Euro reversed to the downside.
Outlook for the EUR/JPY
Price action continues to move within ranges but still holds a bullish bias, recovering from last week lows. Below 141.00, Momentum could favor the downside in the short term.
To the upside the key resistance continues to be the 142.00 area and above at 143.50 while to the downside the strong support lies around 140.00.