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3 Mar 2014
EUR/JPY drops sharply, back below 140.00
FXStreet (Córdoba) - The EUR/JPY opened with a downside gap of more than 80 pips, trading below 140.00. The pair rebounded and traded momentarily back above 140.00 but failed to hold and resume the downside.
Recently bottomed at 139.35, the lowest price since Friday’s european session and continued to trade near session lows.
EUR/JPY weakened by Ukraine crisis, risk aversion
The Yen strengthened during the weekend as demand for the currency increased following the occupation of Crimea, an autonomous republic of Ukraine by Armed Forces of the Russian Federation. The Japanese currency opened higher across the board while the Euro with signs of weakness, falling sharply also against the Swiss Franc .
After one hour of trading, stocks are dropping in Japan, with the Nikkei 225 down 2.11%. The EUR/JPY remains near daily lows, under pressure, below 139.80.
Recently bottomed at 139.35, the lowest price since Friday’s european session and continued to trade near session lows.
EUR/JPY weakened by Ukraine crisis, risk aversion
The Yen strengthened during the weekend as demand for the currency increased following the occupation of Crimea, an autonomous republic of Ukraine by Armed Forces of the Russian Federation. The Japanese currency opened higher across the board while the Euro with signs of weakness, falling sharply also against the Swiss Franc .
After one hour of trading, stocks are dropping in Japan, with the Nikkei 225 down 2.11%. The EUR/JPY remains near daily lows, under pressure, below 139.80.