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EUR/JPY posts lowest close since November

FXStreet (Córdoba) - The EUR/JPY bounced sharply on Thursday and fell 230 pips from daily highs at 138.00 and bottomed at 135.95. During the American session stabilized and moved slightly away from the lows to 136.30/35.

The pair ended Thursday trading around 136.10/15, posting the lowest daily close in 10 months, with a decline of 160 pips. It was the first trading day since March that the euro lost more than a hundred pips versus the yen. The european currency had the worst day in years in the market, weakened by ECB actions.

EUR/JPY bearish potential holds

Valeria Bednarik, Chief Analyst at FXStreet notes that the pair faltered in its recovery around the 138.40 zone, a key level: “As long as below, the bearish potential will remain intact and having corrected towards that level this week, chances turned to fresh lows below 135.73 one posted in August.”

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