Thursday, November 5, 2015

EUR/JPY sidelined, challenges 132.00

FXStreet (Edinburgh) - The generalized weakness surrounding the single currency has prompted EUR/JPY to challenge the critical support at 132.00.

EUR/JPY indifferent on German data

The cross is eroding the support given by the 6-month uptrend from April’s low near the 126.00 handle, opening the door for a potential break below it in case of further EUR-weakness.

On the data front, German Factory Orders have contracted 1.7% on a monthly basis during September. Next on tap in the euro region will be EMU’s Retail Sales followed by the speech by ECB’s M.Draghi.

EUR/JPY significant levels

The cross is losing 0.02% at 131.99 with the next support at 131.80 (6-month uptrend) ahead of 131.58 (low Oct.29) and then 130.12 (low Jan.26). On the other hand, a surpass of 132.72 (76.4% Fibo of 136.44-131.58) would expose 134.47 (200-day ma) and then 134.72 (55-day sma).
For more information, read our latest forex news.

No comments:

Post a Comment