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6 Feb 2015
EUR/JPY supported at 20-DMA
FXStreet (Mumbai) - EUR/JPY trimmed mild losses in the mid-European session, although remains lower as traders continue to digest sluggish German industrial production data as focus now remains on US NFP later today.
Rises from 134.24 levels
Currently, the EUR/JPY pair traded at 134.37 levels, down -0.38% on the day, recovering from previously posted day’s low at 134.24 levels. The weakness seen in EUR/JPY cross is largely on the back of a weaker euro versus the greenback, reacting to the downbeat German data and the ongoing Greece negotiations. While, USD/JPY in a narrow range as there is no data expected from the Japan for rest of the day.
Traders may now focus on the most important macroeconomic indicator to be published, the non-farm payrolls report, along with the unemployment rate in the US.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 134.83 and above which it could extend gains to at 135.21 levels. To the downside immediate support might be located at 134.25 levels below that at 133.80 levels.
Rises from 134.24 levels
Currently, the EUR/JPY pair traded at 134.37 levels, down -0.38% on the day, recovering from previously posted day’s low at 134.24 levels. The weakness seen in EUR/JPY cross is largely on the back of a weaker euro versus the greenback, reacting to the downbeat German data and the ongoing Greece negotiations. While, USD/JPY in a narrow range as there is no data expected from the Japan for rest of the day.
Traders may now focus on the most important macroeconomic indicator to be published, the non-farm payrolls report, along with the unemployment rate in the US.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 134.83 and above which it could extend gains to at 135.21 levels. To the downside immediate support might be located at 134.25 levels below that at 133.80 levels.