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29 Jul 2015
EUR/JPY testing lows below 136.50
FXStreet (Mumbai) - The weak tone on the EUR has strengthened ahead of the European open, pushing the EUR/JPY cross to a session low of 136.34.
Rejected at 200-DMA
The EUR bulls were rejected at the 200-DMA located at 136.96 on Tuesday for the second consecutive session. The pair ran into offers today closer to 136.90, and dropped into losses as the Chinese equity markets stabilized.
Ahead in the day, the EUR could be dumped in case the major equity markets remain resilient. The German gfk consumer confidence figure released today failed to have any impact in the pair.
EUR/JPY Technical Levels
The pair currently trades around 136.40. The immediate support is seen at 136.00, under which the pair could dip to 135.62 (10-DMA). On the other hand, resistance is seen at 137.00 and 137.79 (July 13 high).
Rejected at 200-DMA
The EUR bulls were rejected at the 200-DMA located at 136.96 on Tuesday for the second consecutive session. The pair ran into offers today closer to 136.90, and dropped into losses as the Chinese equity markets stabilized.
Ahead in the day, the EUR could be dumped in case the major equity markets remain resilient. The German gfk consumer confidence figure released today failed to have any impact in the pair.
EUR/JPY Technical Levels
The pair currently trades around 136.40. The immediate support is seen at 136.00, under which the pair could dip to 135.62 (10-DMA). On the other hand, resistance is seen at 137.00 and 137.79 (July 13 high).