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26 Aug 2013
EUR/JPY, unattainable 132.00 zone?
FXstreet.com (Chicago) - EUR/JPY has reached 131.95 twice within the past couple of hours to retrace and continue trading below 132.00 zone as the American trading session advances.
Mixed sentiment?
Europe closed with mixed results with the DAX up 0.22% and the CAC40 down 0.06%. The Euronext marked losses at 0.15% the first trading day of the week as market participants assume Fed’s tapering won’t happen next month as US data remains underperforming. In Japan, the Nikkei started with 0.20% gains but fell to close at -0.18%. Besides the corporate service price (YoY) for July at 0.4%, matching expectations, no other data release was made public in the country. In Europe, the French 10-year bond auction was 2.52% vs. previous 2.32% ahead of data plethora due for the Euro-zone later this week.
EUR/JPY Technical Levels
Price action indicates the pair failed to consolidate above immediate support at 131.90 (August 2nd highs), violating grounds and now facing following 131.54 (August 5th highs) and 131.20 (August 19th highs) grounds. On the upside, resistances are aligned at 132.23 (July 19th highs), 132.73 (July 24th highs) and 133.35 (Mary 23rd highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis with a neutral EMA20 and a MACD indicator pointing down.
Mixed sentiment?
Europe closed with mixed results with the DAX up 0.22% and the CAC40 down 0.06%. The Euronext marked losses at 0.15% the first trading day of the week as market participants assume Fed’s tapering won’t happen next month as US data remains underperforming. In Japan, the Nikkei started with 0.20% gains but fell to close at -0.18%. Besides the corporate service price (YoY) for July at 0.4%, matching expectations, no other data release was made public in the country. In Europe, the French 10-year bond auction was 2.52% vs. previous 2.32% ahead of data plethora due for the Euro-zone later this week.
EUR/JPY Technical Levels
Price action indicates the pair failed to consolidate above immediate support at 131.90 (August 2nd highs), violating grounds and now facing following 131.54 (August 5th highs) and 131.20 (August 19th highs) grounds. On the upside, resistances are aligned at 132.23 (July 19th highs), 132.73 (July 24th highs) and 133.35 (Mary 23rd highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis with a neutral EMA20 and a MACD indicator pointing down.