10 Jun 2015
EUR/JPY lifted around 140.60, awaits fresh incentives
FXStreet (Mumbai) - EUR/JPY extends its upbeat momentum in the Asian morning, reversing losses from the previous session, largely on the back of broad euro strength as markets await conclusion to the impending Greek talks soon. While the yen remains muted despite the latest upbeat Japanese macro releases.
EUR/JPY supported at 140.40
Currently, the EUR/JPY pair trades 0.18% higher at 140.55, retracing from 140.67 session highs. The EUR/JPY pair ticked higher headed in to the new session mainly driven by gains seen in EUR/USD backed by persistent US dollar softness and also on Greece hopes.
While, markets shrugged off better than expected Japan’s core machinery orders and factory gate prices data as yen remains unperturbed by the economic data.
Machinery orders excluding ships and utility items rose 3.8% m/m in April, following a 2.9% rise in orders in March, coming in much stronger than the expected decline of 2.2%. While, Japanese producer price index rose 0.3% in May versus 0.2% expected.
Meanwhile, markets now await further Greece updates for fresh direction while the cross is likely to be driven by EUR moves.
EUR/JPY Technical Levels
To the upside, the next resistance is located at 140.67 (Today’s High) levels and above which it could extend gains 141.02 (June 9 High) levels. To the downside immediate support might be located at 140 below that at 139.33 (June 9 Low) levels.
EUR/JPY supported at 140.40
Currently, the EUR/JPY pair trades 0.18% higher at 140.55, retracing from 140.67 session highs. The EUR/JPY pair ticked higher headed in to the new session mainly driven by gains seen in EUR/USD backed by persistent US dollar softness and also on Greece hopes.
While, markets shrugged off better than expected Japan’s core machinery orders and factory gate prices data as yen remains unperturbed by the economic data.
Machinery orders excluding ships and utility items rose 3.8% m/m in April, following a 2.9% rise in orders in March, coming in much stronger than the expected decline of 2.2%. While, Japanese producer price index rose 0.3% in May versus 0.2% expected.
Meanwhile, markets now await further Greece updates for fresh direction while the cross is likely to be driven by EUR moves.
EUR/JPY Technical Levels
To the upside, the next resistance is located at 140.67 (Today’s High) levels and above which it could extend gains 141.02 (June 9 High) levels. To the downside immediate support might be located at 140 below that at 139.33 (June 9 Low) levels.