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6 Jan 2015
EUR/JPY falls over 600 pips in a week; now testing MA 200 hours around 140.90
FXStreet (San Francisco) - The Euro is falling for the fifth day against the Japanese Yen that after peaking to 147.20 on December 29, EUR/JPY has collapsed over 600 pips test prices below 141.00.
The EUR/JPY is currently testing the 100 hours MA level of 140.90. Currently, EUR/JPY is trading at 141.31, down 1.06% on the day, having posted a daily high at 142.88 and low at 140.90.
The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bearish.
EUR/JPY Sentiment
Yen is rising sharply across the board, as Wall Street stock indexes drop more than 1%. Oil is plummeting to fresh multi-year lows below $48 a barrel. "Like it or not," ForexLive's Greg Michalowski comments; "the flight to the relative safety of the JPY is a dominant theme for traders today.
Below the 141.00 level, the EUR/JPY will find next supports at 140.60 and 140.00. To the upside, resistances are at 141.40, 142.00 and 142.25.
The EUR/JPY is currently testing the 100 hours MA level of 140.90. Currently, EUR/JPY is trading at 141.31, down 1.06% on the day, having posted a daily high at 142.88 and low at 140.90.
The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bearish.
EUR/JPY Sentiment
Yen is rising sharply across the board, as Wall Street stock indexes drop more than 1%. Oil is plummeting to fresh multi-year lows below $48 a barrel. "Like it or not," ForexLive's Greg Michalowski comments; "the flight to the relative safety of the JPY is a dominant theme for traders today.
Below the 141.00 level, the EUR/JPY will find next supports at 140.60 and 140.00. To the upside, resistances are at 141.40, 142.00 and 142.25.