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EUR/JPY rises towards144.00 levels

FXStreet (Mumbai) - The EUR/JPY pair rose sharply today after having managed to sustain above 142 levels since last week.

The Pair is trading 0.82% higher at 143.78 levels, compared to the previous session’s close of 142.66 levels. The yen has weakened sharply against the US Dollar tracking strength in the US treasury yields. Meanwhile, the EUR/USD pair is trading marginally lower at 1.2414.

Moreover, the Yen weakened sharply against the Euro since the European Central Bank (ECB) data released yesterday showed the bank slowed purchases of covered bonds as officials prepare to expand their asset-buying program to include other securities. The central bank settled 3.075 billion euros in the second week of purchases and 1.704 billion euros in the first week.

EUR/JPY Technical levels

The pair has an immediate resistance at 144, above which it can rise to 144.22 levels. On the flip side, the pair can fall to 142.90, if the immediate support at 143.15 is breached.

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