EUR/JPY dips to 135.60, session lows

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 22, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The Japanese currency has been reclaiming ground lost vs. the euro at the end of the Asian trading hours today, dragging EUR/JPY to the 135.60 region.

    EUR/JPY capped by 136.00

    The cross is coming down from overnight tops above the 136.00 handle, as the bid tone around the safe haven JPY keeps gathering traction following the softer sentiment seen in the Nikkei 225, which has reverted the initial positive mood.

    Ahead in the session, the single currency will be under pressure in light of the ECB meeting, while the Nomura/JMMA Manufacturing PMI is only due in the Japanese docket early on Friday.

    EUR/JPY significant levels

    The cross is now losing 0.22% at 135.69 and a breach of 134.56 (200-day sma) would aim for 134.40 (uptrend from September low) and finally 133.41 (low Oct.1). On the upside, the initial barrier lies at 136.34 (100-day ma) followed by 137.00 (psychological level) and then 137.53 (23.6% Fibo of April-June upside).
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