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14 Mar 2014
EUR/JPY consolidates around 141.00
FXStreet (Córdoba) - The EUR/JPY is about to end the week hovering around 141.00 after moving during most of the day in a range between 141.35 and 140.60. Spiked lower briefly and bottomed at 140.43 but bounced quickly to the upside, printing a daily high at 141.51 after Wall Street opening bell.
The Yen extended gains across the board on Friday amid risk aversion but the EUR/JPY held steady as the Euro remained resilient. After dropping 200 pips on Thursday the pair stabilized on Friday around 141.00.
A week ago the pair was trading at 9-week highs, holding upside momentum but then failed to extend gains, as the upside found resistance at 143.50 and started to correct lower, accelerating on Thursday. On a weekly basis the Euro is losing 250 pips, erasing most of March gains.
The Yen extended gains across the board on Friday amid risk aversion but the EUR/JPY held steady as the Euro remained resilient. After dropping 200 pips on Thursday the pair stabilized on Friday around 141.00.
A week ago the pair was trading at 9-week highs, holding upside momentum but then failed to extend gains, as the upside found resistance at 143.50 and started to correct lower, accelerating on Thursday. On a weekly basis the Euro is losing 250 pips, erasing most of March gains.