EUR/JPY climbs to session tops near 136.40, ZEW eyed

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 13, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The upbeat tone around EUR is now bolstering the daily upside in EUR/JPY, currently testing session tops in the 136.40/50 band.

    EUR/JPY attention to ZEW

    The cross remains on track to recover part of yesterday’s sharp pullback, with the 136.00 neighbourhood seems to be quite a decent support so far this week.

    Ahead in the session, the German and EMU ZEW Survey will take centre stage during the European morning. Market consensus sees the survey coming in lower for the current month, showing some concerns regarding the recent VW scandal in Germany.

    The BoJ minutes showed the same rhetoric from the central bank, having zero impact on the safe haven JPY.

    EUR/JPY significant levels

    The cross is now advancing 0.06% at 136.42 with the next hurdle at 136.97 (high Oct.9) ahead of 137.44 (monthly top Sep.17) and then 139.00 (monthly peaks Aug.21). On the flip side, a breach of 135.92 (55d-sma) would expose 134.46 (200-day sma) and finally 133.85 (up trend from September low).
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