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EUR/JPY off highs, back to 136.50

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 15, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - After hitting session tops above 136.70, EUR/JPY has lost some upside momentum and it has returned to the mid-136.00s ahead of the European open.

    EUR/JPY buoyed by risk appetite

    A better sentiment towards the risk appetite during the Asian trading hours has been supporting the upbeat bias in the cross, although the recent pick up in the Japanese currency prompted sellers to step in.

    Data wise in Japan, the key Tertiary Industry Index rose 0.1% on a monthly basis during August while Industrial Production has contracted more than expected 1.2% during the same period.

    EUR/JPY significant levels

    The cross is now advancing 0.15% at 136.55 with the next hurdle at 136.82 (downtrend from September tops) followed by 137.44 (monthly top Sep.17) and then 137.64 (downtrend from 2015 tops June 4). On the flip side, a breach of 136.02 (100d-sma) would aim for 135.84 (55-day sma) and finally 134.48 (200-day sma).
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