13 Jul 2015
EUR/JPY drops to 200-DMA
FXStreet (Mumbai) - The EUR/JPY pair ran into offers at the high of 137.80 post which it fell to its 200-DMA currently located at 136.48.
Funding currencies offered, JPY relatively resilient
The funding currencies like JPY, CHF and EUR are being offered across the board after the Greek deal triggered a rally in the risk assets across the globe. However, the JPY has stayed relatively resilient after Greek deal, thereby pushing the EUR/JPY cross lower.
The EUR/USD pair now trades 0.78% lower at 1.1071, while the USD/JPY spot is up 0.58% at 123.48. Consequently, the EUR/JPY cross is down 0.23% at 136.73.
EUR/JPY Technical Levels
The immediate support is seen at 136.48 (200-DMA), under which the cross could target the low of 136.15. On the flip side, resistance is seen at 137.28 and 137.80.
Funding currencies offered, JPY relatively resilient
The funding currencies like JPY, CHF and EUR are being offered across the board after the Greek deal triggered a rally in the risk assets across the globe. However, the JPY has stayed relatively resilient after Greek deal, thereby pushing the EUR/JPY cross lower.
The EUR/USD pair now trades 0.78% lower at 1.1071, while the USD/JPY spot is up 0.58% at 123.48. Consequently, the EUR/JPY cross is down 0.23% at 136.73.
EUR/JPY Technical Levels
The immediate support is seen at 136.48 (200-DMA), under which the cross could target the low of 136.15. On the flip side, resistance is seen at 137.28 and 137.80.