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3 Mar 2014
EUR/JPY retreats further, approaches 139.00
FXStreet (Córdoba) - The EUR/JPY finished on Monday around 139.20, posting the lowest daily close in almost a month. From Friday’s highs the Euro has fallen 190 pips making a strong reversal against the Yen.
Last week despite being unable to hold above 141.00 finished with upside momentum trading on top of 140.00 but on Monday opened sharply lower, making a downside gap, still not filled, around 139.60, making a strong change in short-term sentiment.
During the recent European and American session the EUR/JPY faced resistance at 139.90 and recently broke below previous lows and bottomed at 139.15. The pair moved from 1-week highs on Friday, to a key support area located between 138.80 and 139.00.
Last week despite being unable to hold above 141.00 finished with upside momentum trading on top of 140.00 but on Monday opened sharply lower, making a downside gap, still not filled, around 139.60, making a strong change in short-term sentiment.
During the recent European and American session the EUR/JPY faced resistance at 139.90 and recently broke below previous lows and bottomed at 139.15. The pair moved from 1-week highs on Friday, to a key support area located between 138.80 and 139.00.