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EUR/JPY advances to highs around 136.40

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 14, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The Japanese yen is depreciating vs. its European counterpart on Wednesday, lifting EUR/JPY to the area of session tops around 136.40.

    EUR/JPY capped by 137.00

    The cross is advancing for the second consecutive session so far, recovering ground lost after Monday’s pullback from tops near 137.00 the figure. The offered tone around the safe haven JPY has been intensified after the Japanese government has cut its outlook on the domestic economy for the first time since 2014.

    Next of relevance in the cross will be EMU’s Industrial Production and CPIs from France, Spain and Italy, while the Tertiary Industry Index and Industrial Production figures are due in Japan tomorrow.

    EUR/JPY significant levels

    The cross is now advancing 0.10% at 136.40 with the next hurdle at 136.77 (downtrend from August tops) followed by 136.97 (high Oct.9) and then 137.44 (monthly top Sep.17). On the flip side, a breach of 136.05 (100d-sma) would aim for 135.88 (55-day sma) and finally 134.47 (200-day sma).
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