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31 Mar 2015
EUR/JPY hovers near session lows
FXStreet (Mumbai) - The EUR/JPY pair fell to a session low of 129.37 after the German retail sales rose less than expected in February.
Greek concerns support Yen
Traditions safe haven assets like the Japanese Yen strengthened against the EUR after the Greece’s creditors kicked the plan submitted by the Greek government back to the officials as it lacked substance. Meanwhile, the decline in the US Treasury yields also helps strengthen the Japanese Yen.
Attention now shifts to the Eurozone preliminary CPI reading for March due for release later today. In the meantime, the Greek issue could dominate the market sentiment.
EUR/JPY Technical Levels
The immediate resistance is seen at 129.74 (5-DMA), above which gains could be extended to 130.24. On the flip side, a break below 129.27 could drive the pair lower to 128.69.
Greek concerns support Yen
Traditions safe haven assets like the Japanese Yen strengthened against the EUR after the Greece’s creditors kicked the plan submitted by the Greek government back to the officials as it lacked substance. Meanwhile, the decline in the US Treasury yields also helps strengthen the Japanese Yen.
Attention now shifts to the Eurozone preliminary CPI reading for March due for release later today. In the meantime, the Greek issue could dominate the market sentiment.
EUR/JPY Technical Levels
The immediate resistance is seen at 129.74 (5-DMA), above which gains could be extended to 130.24. On the flip side, a break below 129.27 could drive the pair lower to 128.69.