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27 Mar 2015
EUR/JPY finds support at 129.00
FXStreet (Córdoba) - The euro is falling across the board on Friday as the US dollar continue to recover and the yen shows resilience. EUR/JPY reached the lowest level in a week at 129.01 and remains under pressure.
EUR/JPY above support
The pair broke below 129.50 hours ago and tumbled to test the 129.00 support area that so far capped the downside. During the last hours it has been trading between 129.00 and 129.20.
The euro is retreating further against the yen, falling for the second day in a row after trading on Wednesday above 131.30. Since then lost more than 200 pips. The decline brought the price below the level it had a week ago.
Last week the pair jumped after the FOMC statement and rebounded. But the rally found resistencia at 131.50 and price pulled back. The long term trend remains bearish but since March 13 the euro was able to hold above 2015 lows.
EUR/JPY above support
The pair broke below 129.50 hours ago and tumbled to test the 129.00 support area that so far capped the downside. During the last hours it has been trading between 129.00 and 129.20.
The euro is retreating further against the yen, falling for the second day in a row after trading on Wednesday above 131.30. Since then lost more than 200 pips. The decline brought the price below the level it had a week ago.
Last week the pair jumped after the FOMC statement and rebounded. But the rally found resistencia at 131.50 and price pulled back. The long term trend remains bearish but since March 13 the euro was able to hold above 2015 lows.