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27 Aug 2015
EUR/JPY continues to decline and hits 3-week lows
FXStreet (Córdoba) - The euro is falling for the fourth day in a row against the yen. Recently EUR/JPY reached a 3-week low at 135.31 and currently trades at 135.50, near the lows still holding a bearish tone in the short term.
Among European currencies, the euro today is among the worst performers and is losing ground against the Swiss franc and the pound.
EUR/JPY closer to 135.00 and August lows
Since the beginning of the week the pair lost more than 300 pips. So far today is the smallest of the latest declines as it trades only 30 pips below yesterday’s closing price.
The euro has been able so far to hold above 135.50, but if it consolidates below, the 135.00 area (also August lows) would be exposed. Below the next level to consider is the 134.30 zone (July 17, 20 low). On the opposite direction, if it manages to remain on top, the chances of an upside correction would rise.
Among European currencies, the euro today is among the worst performers and is losing ground against the Swiss franc and the pound.
EUR/JPY closer to 135.00 and August lows
Since the beginning of the week the pair lost more than 300 pips. So far today is the smallest of the latest declines as it trades only 30 pips below yesterday’s closing price.
The euro has been able so far to hold above 135.50, but if it consolidates below, the 135.00 area (also August lows) would be exposed. Below the next level to consider is the 134.30 zone (July 17, 20 low). On the opposite direction, if it manages to remain on top, the chances of an upside correction would rise.