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EUR/JPY back below 143.00

FXStreet (Edinburgh) - The ongoing weakness around the European currency is dragging EUR/JPY back to sub-143.00 levels.

EUR/JPY capped around 143.40

The cross is coming down from intraday peaks around 143.40 following the increased bearish tone around the euro. Despite the earlier dovish appreciations by BoJ’s Kuroda, the cross could not sustain the advance beyond 143.40, leaving the area of session tops as the negative stance around the EUR started to gather pace. In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, “Intraday charts are suggesting a retracement to 140.80/139.75 prior to further strength”.

EUR/JPY relevant levels

As of writing the cross is up 0.22% at 142.91 with the next up barrier at 143.47 (high Apr.29) followed by 143.62 (high Mar.10) and then 143.79 (high Mar.7). On the downside, a breach of 142.44 (low Nov.5) would open the door to 141.72 (low Nov.4) and finally 141.21 (high Sep.19).

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