29 Jan 2015
No reaction in EUR/JPY post German CPI data
FXStreet (Mumbai) - The EUR/JPY continues to trade largely unchanged at 133.34 levels after the data in preliminary data in Germany showed inflation in January at lowest level since 2009.
EUR/JPY steady below hourly 50-SMA
The pair dipped below the hourly 50-SMA level located at 133.44 ahead of the German CPI data and continues to trade steady despite preliminary reading showed prices fell 0.3% year-on-year in January. No major reaction is seen in the EUR pairs so far. Moreover, the EUR pairs remain well supported by the upbeat German employment data released earlier today.
Going forward, the pair may decline if the US stock markets extend the fall witnessed in the previous session.
EUR/JPY Technical Levels
THe immediate resistance is seen at 133.44 (hourly 50-SMA), above which gains could be extended to 133.75 levels. Meanwhile, support is seen at 133.28 and 132.55 levels.
EUR/JPY steady below hourly 50-SMA
The pair dipped below the hourly 50-SMA level located at 133.44 ahead of the German CPI data and continues to trade steady despite preliminary reading showed prices fell 0.3% year-on-year in January. No major reaction is seen in the EUR pairs so far. Moreover, the EUR pairs remain well supported by the upbeat German employment data released earlier today.
Going forward, the pair may decline if the US stock markets extend the fall witnessed in the previous session.
EUR/JPY Technical Levels
THe immediate resistance is seen at 133.44 (hourly 50-SMA), above which gains could be extended to 133.75 levels. Meanwhile, support is seen at 133.28 and 132.55 levels.