EUR/JPY breaks below 130.00, session lows

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The prevailing risk-off trade continues to give extra legs to the Japanese currency on Monday, now sending EUR/JPY to print fresh lows in the 129.90 area.

    EUR/JPY lower ahead of PMIs

    The cross is trading in fresh multi-week lows in sub-130.00 levels bolstered by an increasing risk aversion while markets are slowly returning to normalcy after the New Year festivities.

    Ahead in the session, final figures for December’s manufacturing PMI in Europe are due ahead of the flash German CPI for the last month. Market consensus expects the CPI to have risen 0.6% on a yearly basis vs. November’s 0.4% gain.

    EUR/JPY significant levels

    The cross is down 0.54% at 129.86 facing the next support at 129.61 (low Nov.27) ahead of 126.85 (low Mar.13) and then 126.05 (low Apr.14). On the upside, a surpass of 132.20 (55-day sma) would expose 133.26 (downtrend from 139.09) and finally 133.70 (100-day sma).
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