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18 Mar 2014
EUR/JPY briefly dips below 141.00
FXStreet (Córdoba) - The EUR/JPY extended losses to fresh lows sub-141.00 after the latest string of disappointing Eurozone data.
The EUR/JPY fell to a 4-day low of 140.73 after data showed German ZEW Survey Economic Sentiment coming in at 46.6 versus 53.0 expected in March. The Current Situation component also came in short of estimates at 51.3 versus 52.0 forecasted. In the same line, Eurozone's Economic Sentiment fell to 61.5 against 67.3 surveyed while January's trade surplus narrowed to €0.9 billion.
EUR/JPY levels to watch
The EUR/JPY however, managed to quickly bounce back above 141.00 and it is currently trading at the 141.10 zone, still recording a 0.4% loss on the day. On the downside, next supports could be found at 140.73 (Mar 18 low), 140.44 (Mar 14 low) and 140.00 (psychological level). On the upside, resistances are seen at 141.95/142.03 (Mar 18 high/10-day SMA) and 142.40 (Jan 23 high).
The EUR/JPY fell to a 4-day low of 140.73 after data showed German ZEW Survey Economic Sentiment coming in at 46.6 versus 53.0 expected in March. The Current Situation component also came in short of estimates at 51.3 versus 52.0 forecasted. In the same line, Eurozone's Economic Sentiment fell to 61.5 against 67.3 surveyed while January's trade surplus narrowed to €0.9 billion.
EUR/JPY levels to watch
The EUR/JPY however, managed to quickly bounce back above 141.00 and it is currently trading at the 141.10 zone, still recording a 0.4% loss on the day. On the downside, next supports could be found at 140.73 (Mar 18 low), 140.44 (Mar 14 low) and 140.00 (psychological level). On the upside, resistances are seen at 141.95/142.03 (Mar 18 high/10-day SMA) and 142.40 (Jan 23 high).