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EUR/JPY wobbles around 130.80

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 23, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - EUR/JPY is trading almost unchanged around the 130.80 level at the beginning of the week, amidst thin trade and lack of volatility in the global markets.

    EUR/JPY focus on PMIs, Fed

    Volatility in the cross remains flat following today’s inactivity in the Japanese markets, while the preliminary manufacturing and services PMIs during November will take centre stage in Euroland.

    On another direction, today’s Fed’s close meeting will be in the limelight as well, in light of the potential rate hike in December.

    EUR/JPY significant levels

    The cross is flat 130.82 and a break below 130.59 (low Nov.16) would expose 130.12 (low Jan.26) and finally 130.00 (psychological level). On the flip side, he next resistance lines up at 133.23 (high Nov.6) followed by 134.27 (200-day sma) and finally 134.97 (100-day sma).
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