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17 Jul 2015
EUR/JPY drops below 135.00, bears regaining control?
FXStreet (Mumbai) - The common currency is being offered in the early European session, taking the EUR/JPY pair below 135.00 levels after reports hit the wires that Greek banks may not open on Monday.
Rejected at hourly 200-MA
The pair failed to take out the hourly 200-MA seen at 135.24 earlier today. The common currency came under pressure after ECB’s Nowotny stated that Greek banks may not open on Monday. Meanwhile, IMF’s Lagarde said Greece plan is categorically not viable and that the amount of the debt cut needed by Greece cannot be granted.
The EUR/JPY spot printed a low of 134.94, before recovering slightly to trade around 135.00 handle. It remains to be seen if the pair manages to rise back to session highs or extends losses. At the moment, the EUR bears appear to be regaining control after the bulls failed to take the pair above hourly 200-MA.
EUR/JPY Technical Levels
The support is seen at 134.74, under which the spot could target 134.00. On the other hand, resistance is seen at 135.24 (hourly 200-MA) and 135.70 (hourly 100-MA).
Rejected at hourly 200-MA
The pair failed to take out the hourly 200-MA seen at 135.24 earlier today. The common currency came under pressure after ECB’s Nowotny stated that Greek banks may not open on Monday. Meanwhile, IMF’s Lagarde said Greece plan is categorically not viable and that the amount of the debt cut needed by Greece cannot be granted.
The EUR/JPY spot printed a low of 134.94, before recovering slightly to trade around 135.00 handle. It remains to be seen if the pair manages to rise back to session highs or extends losses. At the moment, the EUR bears appear to be regaining control after the bulls failed to take the pair above hourly 200-MA.
EUR/JPY Technical Levels
The support is seen at 134.74, under which the spot could target 134.00. On the other hand, resistance is seen at 135.24 (hourly 200-MA) and 135.70 (hourly 100-MA).