8 May 2014
EUR/JPY collapsed after testing 142.35
The Euro rallied across the table amid Mario Draghi's speech where he said nothing new. In this framework, the EUR/JPY jumped to 142.35.
However, the ECB president said in the Q&A that the ECB was “comfortable with acting next time”, meaning June. Then the Euro collapsed with the EUR/JPY falling to 141.10, lowest level since April 27.
Currently, EUR/JPY is trading at 141.25, down 0.35% on the day, having posted a daily high at 142.40 and low at 141.11. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is strongly bearish.
EUR/JPY levels
If the pair extends losses below 141.10, the EUR/JPY would face further supports at 141.00, 140.85 and 140.25. On the upside, resistances are at 142.00, 142.35 and 142.50.
However, the ECB president said in the Q&A that the ECB was “comfortable with acting next time”, meaning June. Then the Euro collapsed with the EUR/JPY falling to 141.10, lowest level since April 27.
Currently, EUR/JPY is trading at 141.25, down 0.35% on the day, having posted a daily high at 142.40 and low at 141.11. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is strongly bearish.
EUR/JPY levels
If the pair extends losses below 141.10, the EUR/JPY would face further supports at 141.00, 140.85 and 140.25. On the upside, resistances are at 142.00, 142.35 and 142.50.