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EUR/JPY wiped out Nov low; Draghi intent

FXStreet (Guatemala) - EUR/JPY is trading at 145.93, down -1.42% on the day, having posted a daily high at 148.46 and low at 145.68.

EUR/JPY has made a major correction, dropping through the 148 handle, then triggering a series of stops coupled with weakness in EUR/USD and strength in the Yen to take it down to the depths of the 146 handle through the Nov low at 146.39 and finding support just below the handle at 145.80. Draghi is intent on doing what ever is necessary and to that effect, we might see some action in the next ECB meeting as signals from his rhetoric imply.

EUR/JPY noteworthy levels

Spot is presently trading at 145.94, and next resistance can be seen at 146.27 (Daily Classic S3), 146.88 (Hourly 20 EMA), 146.97 (Hourly 100 SMA), 146.99 (Weekly Classic R1) and 147.07 (Daily Classic S2). Support below can be found at 145.68 (Hourly 200 SMA), 144.98 (Weekly Low), 144.54 (Weekly Classic PP) and 143.23 (Daily 20 SMA).

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