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12 Mar 2015
EUR/JPY attempts a bounce to 129
FXStreet (Mumbai) - EUR/JPY remains elevated during the late-European session, in an attempt to breach 129 handle as the shared currency was strongly bid amid a broad based greenback weakness.
EUR/JPY rebounds from 128 levels
Currently, the EUR/JPY cross traded higher by 0.50% at 128.74 levels, witnessing a sharp recovery from below 128 barrier. The cross in EUR/JPY was firmer largely on broad euro strength as shared currency regained lost footing versus the US dollar after the recent sell-off below 1.05 handle. On the other hand, the Japanese yen holds on to gains versus the US dollar ahead of major US macro data.
As of writing, USD/JPY trades lower by -0.34% at 121.04 levels, while EUR/USD trades higher by 0.83% at 1.0636.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 129 and above which it could extend gains to at 129.97 levels. To the downside immediate support might be located at 128.50 (Fib 38.2% retracement) levels below that at 128 levels.
EUR/JPY rebounds from 128 levels
Currently, the EUR/JPY cross traded higher by 0.50% at 128.74 levels, witnessing a sharp recovery from below 128 barrier. The cross in EUR/JPY was firmer largely on broad euro strength as shared currency regained lost footing versus the US dollar after the recent sell-off below 1.05 handle. On the other hand, the Japanese yen holds on to gains versus the US dollar ahead of major US macro data.
As of writing, USD/JPY trades lower by -0.34% at 121.04 levels, while EUR/USD trades higher by 0.83% at 1.0636.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 129 and above which it could extend gains to at 129.97 levels. To the downside immediate support might be located at 128.50 (Fib 38.2% retracement) levels below that at 128 levels.