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13 Mar 2014
EUR/JPY erases losses, finds resistance at 143.00
FXStreet (Córdoba) - The EUR/JPY finished Wednesday with moderate gains hovering around 142.85 after being able to erase losses. Early in Asia the pair remains steady moving between 142.70 and 142.95.
On Wednesday during the European session bottomed at 142.22, reaching the lowest price since March 6. Then, as the EUR/USD climbed above 1.3900, the EUR/JPY recovered ground. The rally from the lows was capped barely below 143.00.
EUR/JPY technical outlook
According to Valeria Bednarik, Chief Analyst at FXStreet, the EUR/JPY is aiming for a recovery in the 4-hours charts, “albeit indicators still lack any kind of upward momentum”. The key resistance area to break lies at 142.90 notes Bednarik, above we could see further advances.
On Wednesday during the European session bottomed at 142.22, reaching the lowest price since March 6. Then, as the EUR/USD climbed above 1.3900, the EUR/JPY recovered ground. The rally from the lows was capped barely below 143.00.
EUR/JPY technical outlook
According to Valeria Bednarik, Chief Analyst at FXStreet, the EUR/JPY is aiming for a recovery in the 4-hours charts, “albeit indicators still lack any kind of upward momentum”. The key resistance area to break lies at 142.90 notes Bednarik, above we could see further advances.