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10 Dec 2014
EUR/JPY bounces at 146.50; back above 147.00
FXStreet (San Francisco) - The EUR/JPY was rocked by the RBNZ as the pair fell to 146.00 to bounce rapidly above 147.00, where it remains. The pair fell 120 pips from 147.60 in the US morning to break below 146.80 and trade at lows since November 27 at 146.50.
However, the pair found buying interest at this level and it bounced back to 147.20. Currently, EUR/JPY is trading at 146.92, down 0.72% on the day, having posted a daily high at 148.28 and low at 146.51.
EUR/JPY spot is in oversold territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
EUR/JPY sentiment
The Japanese Yen is extending gains on Wednesday amid a continuation of the unwinding that has taken place ahead of the end of the year.
If the pair consolidates rebound, it will find resistances at 147.50, 148.00 and 148.30. To the downside, supports are at 146.50, 146.35 and 146.00.
However, the pair found buying interest at this level and it bounced back to 147.20. Currently, EUR/JPY is trading at 146.92, down 0.72% on the day, having posted a daily high at 148.28 and low at 146.51.
EUR/JPY spot is in oversold territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
EUR/JPY sentiment
The Japanese Yen is extending gains on Wednesday amid a continuation of the unwinding that has taken place ahead of the end of the year.
If the pair consolidates rebound, it will find resistances at 147.50, 148.00 and 148.30. To the downside, supports are at 146.50, 146.35 and 146.00.