EUR/JPY fails once again near 115.50, back at 115.00

EUR/JPY failed another attempt to take-out 115.50 levels, and retreated sharply in wake of extension of the losses in the US dollar against its major rivals.

EUR/JPY capped by 10-DMA at 115.28

The EUR/JPY pair drops -0.20% to 115.24, unable to chew strong offers placed just below 115.50 levels. The EUR/JPY cross faded a spike to daily tops and now reverts towards 115 handle, as fresh USD selling prompted USD/JPY to extend further into losses amid speculation surrounding BOJ could do something more next week.

While EUR/USD continues to waver in a tight range around the mid-point of 1.12 handle amid a lack of fresh economic drivers, which fails to provide any support to the EUR/JPY cross.

Markets now await the comments from Fed Governor Lael Brainard due later in the NA session for further momentum on both the EUR and JPY.

EUR/JPY Levels to consider  

The pair has an immediate resistance at 115.48 (daily high) and from there to 116 (round number). On the flip side, support is seen at 115 (round figure) below which it could extend losses to towards 114.64/59 (20 & 50-DMA).