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30 Dec 2014
EUR/JPY plunges to 1-week lows
FXStreet (Mumbai) - The single currency dropped against the Japanese yen today, snapping previous session’s gains as traders digested Greek’s failed presidential elections.
Currently, the EUR/JPY pair trades close to a fresh intraday low of 146.07, down -0.33% on the day, after having previously posted day’s high at 146.75 levels. The common currency slipped against its Japanese counterpart as traders now weigh possible negative impacts of the failed third vote in Greece's presidential elections on the 18-nation bloc currency. Adding to the downside in the EUR/JPY cross, Greece called for snap general elections on January 25 that could potentially trigger a crisis, or even a Greek exit from the euro zone.
Meanwhile, the cross in EUR/JPY garners support from the USD/JPY pair which consolidated above 120 levels amid lack of any fresh trigger ahead of year-end holidays.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 146.75 (Today’s High) and above which it could extend gains to at 147.25 (Dec 29 High) levels. To the downside immediate support might be located at 146 levels below that at 145.83 (Dec 22 Low) levels.
Currently, the EUR/JPY pair trades close to a fresh intraday low of 146.07, down -0.33% on the day, after having previously posted day’s high at 146.75 levels. The common currency slipped against its Japanese counterpart as traders now weigh possible negative impacts of the failed third vote in Greece's presidential elections on the 18-nation bloc currency. Adding to the downside in the EUR/JPY cross, Greece called for snap general elections on January 25 that could potentially trigger a crisis, or even a Greek exit from the euro zone.
Meanwhile, the cross in EUR/JPY garners support from the USD/JPY pair which consolidated above 120 levels amid lack of any fresh trigger ahead of year-end holidays.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 146.75 (Today’s High) and above which it could extend gains to at 147.25 (Dec 29 High) levels. To the downside immediate support might be located at 146 levels below that at 145.83 (Dec 22 Low) levels.