2 Feb 2015
EUR/JPY remains elevated ahead of German data
FXStreet (Mumbai) - EUR/JPY capped previous gains and remained elevated as the Euro gained sharply ahead of German PMI data due later shortly.
Down from 133.38
Currently, the EUR/JPY pair traded at 133.03 levels, up 0.26% on the day, hovering around the 133 handle. The cross in EUR/JPY edged higher largely on yen weakness on the back of fading risk-off environment. Moreover, a slight rebound seen in Euro versus the US dollar also supported gains in the cross.
Moreover, the pair is likely to remain cautious ahead of the German PMI which will kick-off a series of crucial EU data for the rest of the week.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 134 and above which it could extend gains to at 134.40 levels. To the downside immediate support might be located at 132.47 levels below that at 132 levels.
Down from 133.38
Currently, the EUR/JPY pair traded at 133.03 levels, up 0.26% on the day, hovering around the 133 handle. The cross in EUR/JPY edged higher largely on yen weakness on the back of fading risk-off environment. Moreover, a slight rebound seen in Euro versus the US dollar also supported gains in the cross.
Moreover, the pair is likely to remain cautious ahead of the German PMI which will kick-off a series of crucial EU data for the rest of the week.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 134 and above which it could extend gains to at 134.40 levels. To the downside immediate support might be located at 132.47 levels below that at 132 levels.