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19 May 2014
EUR/JPY hits 3-month low
FXStreet (Córdoba) - The EUR/JPY came under pressure and dropped to its lowest level in more than 3 months as the cautious tone prevailing in financial markets is lifting the yen as safe-haven currency.
The EUR/JPY broke below the 138.75 zone, which had been acting as support over the last sessions, and stretched to a fresh low of 138.65, last seen Feb 7. The yen also strengthened versus the dollar during the European trade, dragging the USD/JPY to a 15-week low.
EUR/JPY levels to watch
At time of writing, the EUR/JPY is trading at the 138.85 zone, 0.13% below its opening price. Next supports could be found at 138.65 (May 19 low), 138.15 (Feb 2 low) and 138.00 (psychological level). On the other hand, resistances are seen at 139.25 (May 19 high), 139.43 (May 15 high) and 139.85 (former support area/May 15 high).
The EUR/JPY broke below the 138.75 zone, which had been acting as support over the last sessions, and stretched to a fresh low of 138.65, last seen Feb 7. The yen also strengthened versus the dollar during the European trade, dragging the USD/JPY to a 15-week low.
EUR/JPY levels to watch
At time of writing, the EUR/JPY is trading at the 138.85 zone, 0.13% below its opening price. Next supports could be found at 138.65 (May 19 low), 138.15 (Feb 2 low) and 138.00 (psychological level). On the other hand, resistances are seen at 139.25 (May 19 high), 139.43 (May 15 high) and 139.85 (former support area/May 15 high).