8 Apr 2014
EUR/JPY falls sharply to 141.35 support
FXStreet (Bali) - EUR/JPY is in the midst of an impulsive bearish run during the first hour of trading in Tokyo.
The exchange rate hit a session low of 141.35 as the Nikkei 225 in Japan extends losses (-1.2%) ahead of the monetary policy decision by the Bank of Japan, to be published from 3 GMT onwards.
Failure to sustain above the 141.60 support has now exposed 141.35, a level that offers some protection ahead of 141.12 ( Monday low) and 140.95/141.00 (top of the kumo cloud). On the upside, a pick up in price should face first resistance at 141.60.
The exchange rate hit a session low of 141.35 as the Nikkei 225 in Japan extends losses (-1.2%) ahead of the monetary policy decision by the Bank of Japan, to be published from 3 GMT onwards.
Failure to sustain above the 141.60 support has now exposed 141.35, a level that offers some protection ahead of 141.12 ( Monday low) and 140.95/141.00 (top of the kumo cloud). On the upside, a pick up in price should face first resistance at 141.60.