Monday, September 28, 2015

EUR/JPY heavy around 200-DMA

FXStreet (Mumbai) - The cross in the EUR/JPY halted a three-day rally and dived deep in the red on the back of broad euro weakness, while a stronger yen amid negative start on the European bourses also weighed on the cross.

EUR/JPY recovers from 134.20

Currently, the EUR/JPY pair trades -0.37% lower at 134.48, retreating from fresh session lows of 134.20. The EUR/JPY managed to recover partial losses and reverted to 200-DMA located at 134.46 levels as the Japanese yen pared gains versus the greenback, despite losses seen in the European indices.

On the other hand, the EUR/USD pair maintains an offered tone as the buck remains firmer ahead of the Fed’s preferred PCE inflation data due later today. While Fed policymakers Tarullo, Dudley and Evans are due to speak later in the session ahead, which may further impact on the USD moves.

EUR/JPY Technical Levels

To the upside, the next resistance is located at 134.98 (Today’s High) levels and above which it could extend gains to 135.43 (Sept 25 High) levels. To the downside immediate support might be located at 134.07 (Sept 25 Low) below that at 133.97 (Sept 24 Low) levels.
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