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5 Jan 2015
EUR/JPY sinks to fresh 2-Month Lows
FXStreet (Mumbai) - The single currency slipped to its weakest level in nearly two months against the yen, as the European Central Bank (ECB) president suggested "preparation" to act at the upcoming meeting later this month.
Currently, the EUR/JPY pair hit fresh two-month lows at 143.41 levels, down -0.82% on the day. The cross in EUR/JPY continues to extend losses largely on Euro weakness on rising concerns over the anti-austerity party Syriza winning the Greek general elections and thereby putting an end to the country's bailout program. The EUR/JPY cross remains pressured in the weeks to come, ahead of ECB’s monetary policy meeting on Jan 22, where the ECB Chief Draghi may move closer additional QE.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 144.13 (Jan 4 High) and above which it could extend gains to at 145 levels. To the downside immediate support might be located at 143 levels below that at 142.53 (Nov 11 Low) levels.
Currently, the EUR/JPY pair hit fresh two-month lows at 143.41 levels, down -0.82% on the day. The cross in EUR/JPY continues to extend losses largely on Euro weakness on rising concerns over the anti-austerity party Syriza winning the Greek general elections and thereby putting an end to the country's bailout program. The EUR/JPY cross remains pressured in the weeks to come, ahead of ECB’s monetary policy meeting on Jan 22, where the ECB Chief Draghi may move closer additional QE.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 144.13 (Jan 4 High) and above which it could extend gains to at 145 levels. To the downside immediate support might be located at 143 levels below that at 142.53 (Nov 11 Low) levels.