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19 May 2015
EUR/JPY wiped out its bounce and returns to lows at 134.00
FXStreet (Cocoa) - After collapsing 180 pips from 135.75 to 133.95 in the European morning, the EUR/JPY attempted a bounce from lows that drove the pair as high as 134.65; however, the pair was sold again at this level and it's currently testing lows.
The Euro is trading with a weak note today on the back of ECB's officers talks over QE and Greece. Currently, EUR/JPY is trading at 134.15, down 1.19% on the day, having posted a daily high at 135.86 and low at 133.94.
The FXStreet OB/OS Index is reflecting oversold hourly conditions, while the FXStreet Trend Index is slightly bearish.
EUR/JPY forecast
The FXStreet EURJPY Forecast Poll pointed this week for a bearish formation until 130.00 in the EUR/JPY. "EUR/JPY probable top underway, bearish from now on." According to the FXpoll, "the market expects EUR weakness to exceed JPY one, and send the pair back towards the 130.00 region."
Euro to Yen levels
If the EUR/JPY extends decline below 134.00, it will find supports at 133.80 and 133.50. TP the upside, resistances are at 134.65, 135.00 and 135.20.
The Euro is trading with a weak note today on the back of ECB's officers talks over QE and Greece. Currently, EUR/JPY is trading at 134.15, down 1.19% on the day, having posted a daily high at 135.86 and low at 133.94.
The FXStreet OB/OS Index is reflecting oversold hourly conditions, while the FXStreet Trend Index is slightly bearish.
EUR/JPY forecast
The FXStreet EURJPY Forecast Poll pointed this week for a bearish formation until 130.00 in the EUR/JPY. "EUR/JPY probable top underway, bearish from now on." According to the FXpoll, "the market expects EUR weakness to exceed JPY one, and send the pair back towards the 130.00 region."
Euro to Yen levels
If the EUR/JPY extends decline below 134.00, it will find supports at 133.80 and 133.50. TP the upside, resistances are at 134.65, 135.00 and 135.20.