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EUR/JPY on its knees despite weak yen

FXStreet (Guatemala) - EUR/JPY is trading at 142.39, down -0.59% on the day, having posted a daily high at 144.25 and low at 142.17.

EUR/JPY has been on the floor since the ECB and was weighed on also prior when the pair dumped from the highs made overnight in Asia around the 144.20 mark. The yen has lost out yet again to the shares and stocks traded through Europe and NY but remains strong in this cross. Valeria Bednarik, chief analyst at FXstreet explained that for the cross, in the 4 hours chart indicators they ease towards their midlines…price needs to recover at least above 143.00 to be able to shrug off the negative tone and regain the upside.

EUR/JPY noteworthy levels

Spot is presently trading at 142.41, and next resistance can be seen at 142.58 (Daily Classic S1), 142.95 (Hourly 20 EMA), 143.02 (Daily Classic PP), 143.25 (Monthly High). Support below can be found at 142.36 (Yesterday's Low), 142.29 (Hourly 100 SMA), 142.17 (Daily Low), 142.13 (Weekly Classic R1) and 141.91 (Daily Classic S2).

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