Tuesday, September 22, 2015

EUR/JPY: Bearish pressures intact, testing lows near 134.75

FXStreet (Mumbai) - The cross in the EUR/JPY extends its downward trajectory into a fourth day in early Asia, as the yen manages to recover lost ground somewhat against the US dollar amid low volumes as Japan stays closed.

EUR/JPY: On its way to 200-DMA?

Currently, the EUR/JPY pair trades -0.12% lower at 134.74, moving further away from 135 barrier. The EUR/JPY cross maintains an offered tone in Asia on the back of a stronger yen versus the US dollar, correcting previous losses.

Whilst, the common currency remains almost unchanged against the greenback, thus having little impact on the EUR/JPY cross.

Meanwhile, there is nothing relevant in terms of economics news to be reported later today which may influence the pair. Hence, EUR/JPY may track the broad market sentiment for further momentum.

EUR/JPY Technical Levels

To the upside, the next resistance is located at 135.25 (Sept 9 High) levels and above which it could extend gains to 136.18 (Sept 21 High) levels. To the downside immediate support might be located at 134.45 (200-DMA) below that at 133.76 (Jul 10 Low) levels.
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