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EUR/JPY rejected near 128.00

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - After a failed attempt to break above the 128.00 handle during the Asian trading hours, EUR/JPY is now looking to consolidate around 127.60.

    EUR/JPY lower on euro, risk-on

    The better sentiment in the risk appetite space has removed some support for the Japanese currency, although the renewed offered tone around EUR seems to be enough to keep the cross in the negative territory ahead of the opening bell in Euroland.

    Nothing expected data wise in the euro area, while the key Tertiary Industry Index and Industrial Production in Japan have both come in short of expectations during November.

    EUR/JPY key levels

    At the moment the cross is losing 0.06% at 127.61 facing the immediate support at 126.73 (low Jan.6) ahead of 12605 (low Apr.13 2015) and then 124.96 (low Jun.12 2013). On the upside, a surpass of 129.03 (high Jan.7) would expose 129.50 (20-day sma) and finally 131.15 (55-day sma).
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