EUR/JPY wobbles around 133.00

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 2, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The generalized lack of volatility is prompting EUR/JPY to navigate in a narrow range today around the 133.00 handle.

    EUR/JPY supported at 132.60

    The cross has found decent support around 132.60 during the Asian trading hours, although gains remain reluctant to surpass the 133.10 area so far. Mixed results from PMIs in Euroland failed to give extra legs to the shared currency, leaving the cross in the current consolidative pattern.

    In the data space, the next relevant event will be the release of the final Services PMI in Japan and the euro area for the last month (Wednesday), followed by Kuroda’s speech on Friday.

    EUR/JPY significant levels

    The cross is now up 0.21% at 133.02 with the next resistance at 133.56 (50% Fibo of 126.05-141.07) followed by 134.49 (200-day ma) and then 135.03 (55-day sma). On the other hand, a break below 132.18 (monthly low Sep.8) would expose 131.79 (61.8% Fibo of 126.05-141.07) and finally 130.12 (low Jan.26).
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