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11 Mar 2015
EUR/JPY sinks to fresh 2-yr lows at 128.77
FXStreet (Mumbai) - EUR/JPY accelerated losses and slumped to fresh two year lows during the European session, breaking below the crucial 129 barrier as the shared currency extends its freefall across the board amid Greece worries and on a stronger greenback.
EUR/JPY breaks below 129
Currently, the EUR/JPY cross traded lower by -0.52% at 128.89 levels, retreating from fresh two year lows reached at 128.77 levels. The cross in EUR/JPY remains pressured as the shared currency trades at levels seen in 2003 as uncertainties surrounding Greek negotiations and the US dollar at decade highs continues to smash the euro.
EUR/JPY continues its descent as the falling yen versus the buck also fails to lift the cross.
As of writing, USD/JPY trades higher by 0.32% at 121.51 levels, while EUR/USD trades lower by -0.88% at 1.0601.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 129.96 (Today’s High) and above which it could extend gains to at 131 levels. To the downside immediate support might be located at 128.50 (Fib 38.2% retracement) levels below that at 127.95 (Aug 2013 Low) levels.
EUR/JPY breaks below 129
Currently, the EUR/JPY cross traded lower by -0.52% at 128.89 levels, retreating from fresh two year lows reached at 128.77 levels. The cross in EUR/JPY remains pressured as the shared currency trades at levels seen in 2003 as uncertainties surrounding Greek negotiations and the US dollar at decade highs continues to smash the euro.
EUR/JPY continues its descent as the falling yen versus the buck also fails to lift the cross.
As of writing, USD/JPY trades higher by 0.32% at 121.51 levels, while EUR/USD trades lower by -0.88% at 1.0601.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 129.96 (Today’s High) and above which it could extend gains to at 131 levels. To the downside immediate support might be located at 128.50 (Fib 38.2% retracement) levels below that at 127.95 (Aug 2013 Low) levels.