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EUR/JPY fall below 146.00 after testing 146.70

FXStreet (San Francisco) - The EUR/JPY rally from 145.00 found selling interest at 146.70, the highest level since September 2008 since the pair started to trade lower to 145.70.

Currently, EUR/JPY is trading at 145.97, up 0.69% on the day, having posted a daily high at 146.73 and low at 144.98. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish.

EUR/JPY sentiment

A good German ZEW data helped the euro to post gains versus its major competitors, however the single currency does not seem strong enough since Mario Draghi offered a dovish view about the outlook for the euro zone.

As for the short term, Above 146.70, next resistances are at 146.85 (Oct 3 2008 high) and 147.00 (psychological level). To the downside, supports are at 145.75, 145.50 and 145.00.

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