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31 Dec 2014
EUR/JPY moves away from 6-Weeks lows
FXStreet (Mumbai) - The single currency dropped against the Japanese yen today, extending losses from previous session. However, the Euro managed to retrace from 6-week lows reached in the previous session.
Currently, the EUR/JPY pair trades at 145.17, down -0.09% on the day, after having reached six-week lows of 144.71 yesterday. The common currency slipped against its Japanese counterpart as traders sought for safe-haven alternatives which boosted yen bids. However, the cross EUR/JPY recovered today and erased partial losses from the previous session on growing speculations that Bank of Japan (BOJ) may implement additional stimulus measures to fight deflation in the Japanese economy.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 145.60 and above which it could extend gains to at 145.88 levels. To the downside immediate support might be located at 144.71 levels below that at 144.26 levels.
Currently, the EUR/JPY pair trades at 145.17, down -0.09% on the day, after having reached six-week lows of 144.71 yesterday. The common currency slipped against its Japanese counterpart as traders sought for safe-haven alternatives which boosted yen bids. However, the cross EUR/JPY recovered today and erased partial losses from the previous session on growing speculations that Bank of Japan (BOJ) may implement additional stimulus measures to fight deflation in the Japanese economy.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 145.60 and above which it could extend gains to at 145.88 levels. To the downside immediate support might be located at 144.71 levels below that at 144.26 levels.