1 Aug 2013
EUR/JPY decline halted at 130.50 support post PMIs
FXstreet.com (Barcelona) - Having climbed into the European open and posted a high at 130.99, EUR/JPY declined swiftly to where it is currently finding support at 130.50.
EUR/JPY finds near term support on PMI data
The pair, which found an overnight floor at 130.30, looks to have stabilised at support following a largely bullish set of European PMI´s which saw Spain and France miss expectations, but Italy, Germany, Greece and the EU all improve. Ahead however, they key events of the day remain the BoE and ECB meets at 11:00 GMT and 11:45/12:30 GMT respectively.
EUR/JPY Technicals slightly bullish
The FXstreet.com Trend Index is slightly bullish for the pair, and looking at the daily classic pivot points we can see support below spot at the daily pivot at 130.11, S1 at 129.40 and S2 at 128.61. Above, we see resistance at R1 at 130.90, R2 at 131.61 and R3 at 132.40. On an hourly chart we see a mixed outlook with oscillators, with Stochastics in oversold territory at 26.39, but RSI at 51.08.
EUR/JPY finds near term support on PMI data
The pair, which found an overnight floor at 130.30, looks to have stabilised at support following a largely bullish set of European PMI´s which saw Spain and France miss expectations, but Italy, Germany, Greece and the EU all improve. Ahead however, they key events of the day remain the BoE and ECB meets at 11:00 GMT and 11:45/12:30 GMT respectively.
EUR/JPY Technicals slightly bullish
The FXstreet.com Trend Index is slightly bullish for the pair, and looking at the daily classic pivot points we can see support below spot at the daily pivot at 130.11, S1 at 129.40 and S2 at 128.61. Above, we see resistance at R1 at 130.90, R2 at 131.61 and R3 at 132.40. On an hourly chart we see a mixed outlook with oscillators, with Stochastics in oversold territory at 26.39, but RSI at 51.08.