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22 May 2015
EUR/JPY fall below 134.00
FXStreet (Córdoba) - EUR/JPY reversed sharply and fell from 3-day highs to 2-week lows in a few hours. The pair was trading above 135.00 and recently bottomed at 133.71.
EUR/USD drives EUR/JPY lower
The euro weakened across the board after the release of CPI data from the US and particularly after EUR/USD broke below a key short term support located at 1.1060 and accelerated to the downside. EUR/JPY dropped sharply despite the fact that USD/JPY rose from 120.90 to 121.50.
The euro lost 160 pips during the last three hours against the yen and currently trades below 133.90 (May 19, 20 lows). The technical outlook for EUR/JPY weakened considerably with the recent decline. It was consolidating and trimming weekly losses, after falling from 137.00, but the recovery proved to be short lived and today resumed the decline.
EUR/USD drives EUR/JPY lower
The euro weakened across the board after the release of CPI data from the US and particularly after EUR/USD broke below a key short term support located at 1.1060 and accelerated to the downside. EUR/JPY dropped sharply despite the fact that USD/JPY rose from 120.90 to 121.50.
The euro lost 160 pips during the last three hours against the yen and currently trades below 133.90 (May 19, 20 lows). The technical outlook for EUR/JPY weakened considerably with the recent decline. It was consolidating and trimming weekly losses, after falling from 137.00, but the recovery proved to be short lived and today resumed the decline.