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4 Jul 2013
EUR/JPY slumps on Draghi's dovish speech
FXstreet.com (Córdoba) - The EUR/JPY slumped and dipped below the 129.00 level weighed by ECB President Draghi dovish remarks.
EUR/JPY falls below 129.00
In a press conference, Mario Draghi reiterated that monetary policy will remain accommodative for as long as needed and rates will remain at present or lower levels for an extended period of time. The euro took a hit and fell across the board following comments, with EUR/JPY slipping to a low of 128.82 before finding support.
At time of writing, EUR/JPY is trading at the 128.90 zone, where it records a 0.8% loss on the day, with immediate supports at 128.66 (Jul 3 low) and 128.30 (Jun 28 low). On the flips side, the cross could meet resistances at 129.35 (former low) and 130.20 (daily high).
EUR/JPY falls below 129.00
In a press conference, Mario Draghi reiterated that monetary policy will remain accommodative for as long as needed and rates will remain at present or lower levels for an extended period of time. The euro took a hit and fell across the board following comments, with EUR/JPY slipping to a low of 128.82 before finding support.
At time of writing, EUR/JPY is trading at the 128.90 zone, where it records a 0.8% loss on the day, with immediate supports at 128.66 (Jul 3 low) and 128.30 (Jun 28 low). On the flips side, the cross could meet resistances at 129.35 (former low) and 130.20 (daily high).