22 Aug 2013
EUR/JPY trades higher despite risk aversion prevailing across the board
FXstreet.com (Athens): EUR/JPY is moving upwards on Thursday, on risk aversion hesitation.
Will BoJ Governor Kuroda reveal new monetary easing plans at Jackson Hole?
Given the bearish close for US equities and the 10-month low in the Deutsche Bank carry index, traders may expect the yen crosses to continue their retreat. Despite that, hesitation to move into a more ‘risk-appetite mood’, as well as expectations about Kuroda’s upcoming talk at the Jackson Hole Economic Symposium, lifted euro up. Traders, should bear in mind, that to0day sees the Euro-area PMI figures for August. These are timely measures of economic activity for the region, and can thereby give a growth view for investors.
Technical outlook on EUR/JPY
At the time of writing, EUR/JPY is trading as of 130.91 up 0.36%. The FXstreet.com Trend Index shows the pair to be slightly bullish. Daily pivot point support can be found at 129.90, 129.57, 129.25 and resistance at 131.42, 131.75 and 132.08, respectively.
Will BoJ Governor Kuroda reveal new monetary easing plans at Jackson Hole?
Given the bearish close for US equities and the 10-month low in the Deutsche Bank carry index, traders may expect the yen crosses to continue their retreat. Despite that, hesitation to move into a more ‘risk-appetite mood’, as well as expectations about Kuroda’s upcoming talk at the Jackson Hole Economic Symposium, lifted euro up. Traders, should bear in mind, that to0day sees the Euro-area PMI figures for August. These are timely measures of economic activity for the region, and can thereby give a growth view for investors.
Technical outlook on EUR/JPY
At the time of writing, EUR/JPY is trading as of 130.91 up 0.36%. The FXstreet.com Trend Index shows the pair to be slightly bullish. Daily pivot point support can be found at 129.90, 129.57, 129.25 and resistance at 131.42, 131.75 and 132.08, respectively.