Euro to Decline to Lowest Versus Yen Since October BOJ, IG Says
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The euro is poised to decline against the yen to the weakest since the Bank of Japan unexpectedly boosted monetary easing in October, IG Markets Securities said, citing trading patterns.
The euro dropped to 139.46 yen, the lowest since Oct. 31, before trading at 140.01 as of 2:08 p.m. in Tokyo. It broke through support at about 140 yen -- the 61.8 percent Fibonacci retracement of the rally from the October low to the December high and the 200-day moving average.