EUR/JPY Prints Session Low Below 125.00

EUR/JPY Prints Session Low Below 125.00

22 March 2016, 11:48
Roberto Jacobs

EUR/JPY Prints Session Low Below 125.00

The EUR/JPY pair hit a low of 124.67 in Europe after the news of a terror attack in Brussels triggered a sell-off in EUR/USD and USD/JPY pair.

Hovers above 125.00

The cross now trades around 125.10 levels with investors awaiting fresh news flow out of Brussels. An upbeat economic data releases across Eurozone – PMI and German IFO survey – received little attention from the markets.

Moreover, the terror news also triggered a drop in equities, which further added to the bid tone around Yen. The cross now waits to see the reaction in the US equities following a risk-off action in Europe.

EUR/JPY Technical Levels

The immediate support is seen at 124.67 (daily low), under which the pair could target 123.85 (Mar 8 low). A break lower would expose 123.06 (Mar 9 low). Conversely, violation of immediate hurdle of 125.22 (previous day’s low) would shift risk in favor of a rise to 125.88 (10-DMA), above which spot could target 126.27 (daily high).

(Market News Provided by FXstreet)

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