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EUR/JPY sidelined, hovering over 130.00

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 27, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - After a brief adventure to daily highs near 130.20, EUR/JPY has returned to the 130.00 neighbourhood ahead of the opening bell in Europe.

    EUR/JPY unchanged on Japanese data

    The cross has remained apathetic following the mixed results from the Japanese inflation figures and the improvement of the unemployment rate, dropping to 3.1% during October from 3.4% forecasted.

    In the meantime, the prevailing bearish environment around the European currency has relegated the cross to trade in the area of multi-month lows, challenging the psychological support at 130.00 the figure.

    EUR/JPY significant levels

    The cross is up 0.02% at 130.02 and a breakout of 133.23 (high Nov.6) would expose 133.74 (55-day sma) and finally 134.19 (200-day sma). On the other hand, the immediate support lines up at 129.72 (low Nov.25) followed by 126.85 (low Mar.13) and then 126.05 (low Apr.14).
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