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17 Sep 2013
EUR/JPY soars to 132.45 session highs
FXstreet.com (Chicago) - EUR/JPY broke through previous resistance to print new session highs at 132.45. Failing to sustain performance, the pair consolidates around the 132.30 zone.
European data - long on Japan?
Ahead of economic sentiment data in the Euro-zone due later today and amid positive comments on Japanese economy, the yen weakens against the euro. According to Forex Live analyst Eamoon Sheridan, Prime Minister Abe is promoting the positive results obtained through “austerity” and “stimulus” Abe-nomics at a Merril Lynch event in Tokyo, aiming to attract investors to inject cash in the Asian country. The Nikkei reacts to Summers withdrawal one day late as markets were closd yesterday to print 0.09% gains so far.
EUR/JPY Technical Levels
Price action reveals the extension of an upward trendline and steady climb consolidation above the 132.00 zone. Offered at 1.3233, the pair oscillates between supports at 132.20 (July 19th highs), 131.87 (September 2nd highs) ahead of 131.45 (September 8th lows) and resistances at 132.41 (September 25th highs), 132.75 (July 24th highs) followed by 133.30 (September 11th highs). The FXstreet.com trend index on 1-hour timeframe reports the pair as sligthly bearish and above the EMA20.
European data - long on Japan?
Ahead of economic sentiment data in the Euro-zone due later today and amid positive comments on Japanese economy, the yen weakens against the euro. According to Forex Live analyst Eamoon Sheridan, Prime Minister Abe is promoting the positive results obtained through “austerity” and “stimulus” Abe-nomics at a Merril Lynch event in Tokyo, aiming to attract investors to inject cash in the Asian country. The Nikkei reacts to Summers withdrawal one day late as markets were closd yesterday to print 0.09% gains so far.
EUR/JPY Technical Levels
Price action reveals the extension of an upward trendline and steady climb consolidation above the 132.00 zone. Offered at 1.3233, the pair oscillates between supports at 132.20 (July 19th highs), 131.87 (September 2nd highs) ahead of 131.45 (September 8th lows) and resistances at 132.41 (September 25th highs), 132.75 (July 24th highs) followed by 133.30 (September 11th highs). The FXstreet.com trend index on 1-hour timeframe reports the pair as sligthly bearish and above the EMA20.