7 May 2015
EUR/JPY eases-off fresh 3-months highs
FXStreet (Mumbai) - The shared currency held on to gains versus the British pound in the European morning; lifting EUR/JPY towards fresh three month highs reached at 135.83 some time ago, largely on the back of broad euro strength following upbeat German factory orders data and rallying German bund yields.
EUR/JPY boosted by German data.
Currently, the EUR/JPY cross trades 0.15% higher at 134.75, retreating from fresh three month highs posted before the data release. The cross in EUR/JPY extends its upward trajectory and received further impetus after factory orders in the Germany rose in March after the plunge seen in Feb.
Industrial orders in the euro area's number one economy added 0.9% in March, m/m, against expectations of 1.5% growth. In Feb, the gauge declined 0.9%. The gauge gained 1.9% y/y in March, after posting 1.3% decline in Feb.
Meanwhile, the yen trades flattish across the board US employment data to provide further momentum on the cross.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 136 and above which it could extend gains to at 136.75 (Jan High) levels. To the downside immediate support might be located at 135.18 (Today’s Low) levels below that at 134.34 levels.
EUR/JPY boosted by German data.
Currently, the EUR/JPY cross trades 0.15% higher at 134.75, retreating from fresh three month highs posted before the data release. The cross in EUR/JPY extends its upward trajectory and received further impetus after factory orders in the Germany rose in March after the plunge seen in Feb.
Industrial orders in the euro area's number one economy added 0.9% in March, m/m, against expectations of 1.5% growth. In Feb, the gauge declined 0.9%. The gauge gained 1.9% y/y in March, after posting 1.3% decline in Feb.
Meanwhile, the yen trades flattish across the board US employment data to provide further momentum on the cross.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 136 and above which it could extend gains to at 136.75 (Jan High) levels. To the downside immediate support might be located at 135.18 (Today’s Low) levels below that at 134.34 levels.