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EUR/JPY choppy around 130.40

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 25, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The single currency is posting meager gains vs. the Japanese yen on Wednesday, with EUR/JPY hovering over the 130.40 area so far.

    EUR/JPY indifferent to BoJ

    The cross keeps the trade near multi-month lows, unable to gather further traction as significant catalysts remain absent so far.

    Nothing new from the BoJ in its minutes today, with the central bank blaming the decline in energy prices for the current lack of reaction of domestic inflation. The BoJ has also reiterated that it is not considering further stimulus for the time being, broadly in line with market expectations.

    EUR/JPY significant levels

    The cross is up 0.08% at 130.49 with the next hurdle at 133.23 (high Nov.6) followed by 134.25 (200-day sma) and finally 134.93 (100-day sma). On the other hand, a break below 130.29 (low Nov.23) would expose 130.12 (low Jan.26) and finally 130.00 (psychological level).
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