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28 Aug 2013
EUR/JPY trading on the upper side; JPY eases
FXstreet.com (Athens) - The EUR/JPY is trading upwards the last couple of hours despite Iraq declares state of alert over Syria strike possibility.
EUR/JPY sitting well above 130.00 area
The pair was moving downwards till the opening of US markets, but after dismal US data and the general yen easing across the board, the pair finally managed to break the 130.00 level. Briefly, the scarce data out of Europe today was on the weaker side, but did little to move markets. Despite, until 10.00 GMT hours the single currency hurt smoothly on dismal German GfK consumer confidence and weak Italian retail sales, it managed ahead of a relatively light calendar, to overcome the 130.00 barrier. Indeed, investors might find it a kind of bizarre, that News reports suggest that ‘western countries are indeed moving closer to a military strike against Syria’ and the single currency still manages to proceed in a stronger trend.
EUR/JPY from a technical aspect of view
At the time of writing, the pair is trading at 130.28, up 0.24%. and The FXstreet.com Trend Index shows the pair to be slightly bullish. Daily pivot point support can be found at 129.67, 128.10, 127.86 and resistance at 130.60, 131.20 and 132.01 respectively
EUR/JPY sitting well above 130.00 area
The pair was moving downwards till the opening of US markets, but after dismal US data and the general yen easing across the board, the pair finally managed to break the 130.00 level. Briefly, the scarce data out of Europe today was on the weaker side, but did little to move markets. Despite, until 10.00 GMT hours the single currency hurt smoothly on dismal German GfK consumer confidence and weak Italian retail sales, it managed ahead of a relatively light calendar, to overcome the 130.00 barrier. Indeed, investors might find it a kind of bizarre, that News reports suggest that ‘western countries are indeed moving closer to a military strike against Syria’ and the single currency still manages to proceed in a stronger trend.
EUR/JPY from a technical aspect of view
At the time of writing, the pair is trading at 130.28, up 0.24%. and The FXstreet.com Trend Index shows the pair to be slightly bullish. Daily pivot point support can be found at 129.67, 128.10, 127.86 and resistance at 130.60, 131.20 and 132.01 respectively