EUR/JPY flirting with 133.00

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The Japanese yen is losing the grip at the end of the Asian session on Monday, pushing EUR/JPY to test daily highs near 133.00 the figure.

    EUR/JPY supported at 132.50

    The cross is looking to stabilize after coming down from recent tops beyond 134.50 recorded last week. Despite the 2-cents decline, sellers have met strong support in the mid-132.00s so far, allowing the current rebound.

    Data wise in Japan, the industrial/manufacturing sector was in the limelight in early trade, where the key Tankan Large Manufacturers Index surpassed expectations for Q4 and the Tertiary Industry Activity Index rose 0.9% MoM in October. In Euroland today, Industrial Production is expected to have expanded 0.2% during October.

    EUR/JPY significant levels

    The cross is up 0.06% at 132.93 facing the next hurdle at 134.11 (downtrend from 139.09) ahead of 134.47 (100-day sma) and then 135.47 (61.8% Fibo of 139.09-129.61). On the other hand, a break below 132.56 (low Dec.11) would aim for 131.84 (23.6% Fibo of 139.09-129.61) and finally 129.72 (low Nov.25).
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