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2 Dec 2014
EUR/JPY rejects 148.20 and falls to test 147.50
FXStreet (San Francisco) - The EUR/JPY got a rejection at 148.20, the highest since November 20, which sent the pair to test the 147.50 area after a shake of 70 pips.
Earlier in the day, the EUR/JPY rose to highs amid a widespread decline in the Japanese currency. Currently, EUR/JPY is trading at 147.57 after giving up all previous gain on the day. The pair posted a daily high at 148.22 and low at 147.46.
EUR/JPY sentiment
According to Ryan Littlestone from ForexLive, "EUR/JPY seems to have given up on breaking through the recent high around 148.15," on the back of the "euro slides further below 1.2400 to 1.2385."
Littlestone comments that "short term we’re building up for a move and Thursday’s ECB meeting will probably be the catalyst. Until then we might just walk the range, unless EUR/USD really craps out or USD/JPY takes off."
Below 147.50, the pair will find supports at 147.00 and 146.85. To the upside, resistances are at 148.00, 148.20 and 149.00.
Earlier in the day, the EUR/JPY rose to highs amid a widespread decline in the Japanese currency. Currently, EUR/JPY is trading at 147.57 after giving up all previous gain on the day. The pair posted a daily high at 148.22 and low at 147.46.
EUR/JPY sentiment
According to Ryan Littlestone from ForexLive, "EUR/JPY seems to have given up on breaking through the recent high around 148.15," on the back of the "euro slides further below 1.2400 to 1.2385."
Littlestone comments that "short term we’re building up for a move and Thursday’s ECB meeting will probably be the catalyst. Until then we might just walk the range, unless EUR/USD really craps out or USD/JPY takes off."
Below 147.50, the pair will find supports at 147.00 and 146.85. To the upside, resistances are at 148.00, 148.20 and 149.00.