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9 Jan 2014
EUR/JPY fails to break 143.00 and retreats
FXstreet.com (Córdoba) - The EUR/JPY finished Thursday with a small gain of 23 pips, far from the highs of the day affected by dovish comments made by Mario Draghi, president of the ECB.
During the European session the EUR/JPY rose to the 143.00 area and actually reached a daily high at 143.04. The move, as it did on Wednesday, was followed by a retracement amid a general decline of the Euro across the board, that sent the pair to 142.04, reaching a 2-day low.
During New York trading the pair stabilized and manged to climbed back above 142.50 in the final hour of trading.
EUR/JPY trading range
For the second day in a row the EUR/JPY tested the 143.00 area, being unable to rally above. Also, to the downside, once again, as it did on Wednesday found support above 142.00. The recovery from Monday's lows has found a strong resistance but also the downside has remain limited in the last two days, contributing to sideways moves.
During the European session the EUR/JPY rose to the 143.00 area and actually reached a daily high at 143.04. The move, as it did on Wednesday, was followed by a retracement amid a general decline of the Euro across the board, that sent the pair to 142.04, reaching a 2-day low.
During New York trading the pair stabilized and manged to climbed back above 142.50 in the final hour of trading.
EUR/JPY trading range
For the second day in a row the EUR/JPY tested the 143.00 area, being unable to rally above. Also, to the downside, once again, as it did on Wednesday found support above 142.00. The recovery from Monday's lows has found a strong resistance but also the downside has remain limited in the last two days, contributing to sideways moves.