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15 Dec 2014
EUR/JPY drops, sustains above 147 levels
FXStreet (Mumbai) - The Japanese yen gained momentum against the Euro as the Japanese currency strengthened against the greenback in a sign of confidence for Prime Minister Shinzo Abe’s election victory by majority on Sunday.
Currently, the EUR/JPY pair trades at 147.2 levels, down -0.52%, compared to previous session close of 147.54. The Euro remains pressured against the yen after Fitch Ratings downgraded France's ratings to 'AA' from 'AA+' with a stable outlook late on Friday due to the country's deteriorating economic outlook and high public debt levels.
EUR/JPY Technical Levels
To the upside, the next resistance is located at 147.44 (Nov 26 High), above which it could extend gains to 148.25 (Dec 2 High) and from here to 148.97 (Dec 4 High) levels. To the downside, immediate support might be located at 146.71 (Nov 28 Low) and below that at 146.38 (Nov 27 Low) and 145.80 levels.
Currently, the EUR/JPY pair trades at 147.2 levels, down -0.52%, compared to previous session close of 147.54. The Euro remains pressured against the yen after Fitch Ratings downgraded France's ratings to 'AA' from 'AA+' with a stable outlook late on Friday due to the country's deteriorating economic outlook and high public debt levels.
EUR/JPY Technical Levels
To the upside, the next resistance is located at 147.44 (Nov 26 High), above which it could extend gains to 148.25 (Dec 2 High) and from here to 148.97 (Dec 4 High) levels. To the downside, immediate support might be located at 146.71 (Nov 28 Low) and below that at 146.38 (Nov 27 Low) and 145.80 levels.