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EUR/JPY stabilizing around 132.30

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 13, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - After hitting tops around 132.60 in early trade, EUR/JPY has slipped towards the 132.30 area, where it is now trying to consolidate.

    EUR/JPY attention to EMU releases

    The cross is coming down from recent peaks near 132.80 following a renewed buying interest around the single currency on Thursday. On the Japanese side, the demand for the safe haven JPY has been depressed throughout the week along with a lack of significant releases or events in Japan.

    Ahead in the session EMU’s GDP figures during the third quarter will be in the limelight, while speculations of further easing by the ECB keep lingering over the global markets, limiting occasional gains.

    EUR/JPY significant levels

    The cross is retreating 0.21% at 132.25 and a breach of 131.49 (low Nov.6) would expose 130.12 (low Jan.26) and finally 128.43 (161.8% Fibo extension of 136.44-131.49). On the other hand, the next hurdle lines up at 133.38 (61.8% Fibo of 136.44-131.49) followed by 134.42 (200-day ma) and then 135.32 (100-day sma).
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