13 Feb 2015
EUR/JPY muted post EMU data
FXStreet (Mumbai) - EUR/JPY little changed during the mid-European session, after EMU Q4 2014 GDP figures showed that the Euro zone economy accelerated during the final quarter of 2014, outpacing estimates.
Hovers below 136 levels
Currently, the EUR/JPY pair traded flat at 135.88 levels, striving for 136 levels. The EUR/JPY traded muted, with no reaction to the upbeat EZ data which showed that the 19-nation bloc’s grew by 0.3% in Q4 2014, following the 0.2% uptick in Q3, beating expectations for a 0.2% expansion. On yearly basis, the bloc's GDP expanded 0.9%, after a 0.8% growth in previous quarter. The reading also managed to outpace forecast of an unchanged figure.
The pair remains stuck below 136 levels as both the EUR and JPY is gaining equally against the USD on a broad based greenback weakness. Meanwhile, traders now focus on the crucial US macro data due later today for fresh cues on the cross.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 136.30 and above which it could extend gains to at 136.70 levels. To the downside immediate support might be located at 135 levels below that at 134.77 levels.
Hovers below 136 levels
Currently, the EUR/JPY pair traded flat at 135.88 levels, striving for 136 levels. The EUR/JPY traded muted, with no reaction to the upbeat EZ data which showed that the 19-nation bloc’s grew by 0.3% in Q4 2014, following the 0.2% uptick in Q3, beating expectations for a 0.2% expansion. On yearly basis, the bloc's GDP expanded 0.9%, after a 0.8% growth in previous quarter. The reading also managed to outpace forecast of an unchanged figure.
The pair remains stuck below 136 levels as both the EUR and JPY is gaining equally against the USD on a broad based greenback weakness. Meanwhile, traders now focus on the crucial US macro data due later today for fresh cues on the cross.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 136.30 and above which it could extend gains to at 136.70 levels. To the downside immediate support might be located at 135 levels below that at 134.77 levels.