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15 Dec 2014
EUR/JPY moving in a continuation of downside correction
FXStreet (Guatemala) - EUR/JPY is trading at 146.93, down -0.57% on the day, having posted a daily high at 148.27 and low at 146.64.
EUR/JPY is struggling with the 147 handle and attempts of a recovery are lacking conviction vs a strong resistance that was acting as support over the course of November and December so far.
Remaining with the recent technical price action, the pair is in a continuation of this where the accelerated uptrend was eroded from above 148.00 and this leaves key support at 145.68 exposed (December 2013 peak), as noted by Karen Jones, chief analyst at Commerzbank. “Failure here will target the 143.05 2 month support line”.
EUR/JPY is struggling with the 147 handle and attempts of a recovery are lacking conviction vs a strong resistance that was acting as support over the course of November and December so far.
Remaining with the recent technical price action, the pair is in a continuation of this where the accelerated uptrend was eroded from above 148.00 and this leaves key support at 145.68 exposed (December 2013 peak), as noted by Karen Jones, chief analyst at Commerzbank. “Failure here will target the 143.05 2 month support line”.