1 Jul 2015
EUR/JPY bounces-off 136.07
FXStreet (Mumbai) - The offered tone in EUR/JPY was maintained during the European session following the release of a set of manufacturing PMI reports from the Euro area as the European currency remains pressured amid Grexit fears while Sunday’s referendum remains in focus.
EUR/JPY rises from 136.07 lows
Currently, the EUR/JPY pair trades -0.24% lower at 136.24, failing to breach the 136 barrier. The cross in EUR/JPY remained in red mainly driven by persistent EUR/USD weakness in the back drop of Greek default and the ongoing referendum polls.
The cross keeps red with no impact whatsoever from upbeat PMI reading from both Germany as well as Euro zone as a bloc.
However, the downside remains cushioned on a weaker yen versus the greenback as Greece headlines faded and traders now anticipate stronger US jobs data due later today which added to the USD strength.
EUR/JPY Technical Levels
To the upside, the next resistance is located at 137 levels and above which it could extend gains 137.79 (June 30 High) levels. To the downside immediate support might be located at 135.84 (June 30 Low) below that at 135.09 (June 1 Low) levels.
EUR/JPY rises from 136.07 lows
Currently, the EUR/JPY pair trades -0.24% lower at 136.24, failing to breach the 136 barrier. The cross in EUR/JPY remained in red mainly driven by persistent EUR/USD weakness in the back drop of Greek default and the ongoing referendum polls.
The cross keeps red with no impact whatsoever from upbeat PMI reading from both Germany as well as Euro zone as a bloc.
However, the downside remains cushioned on a weaker yen versus the greenback as Greece headlines faded and traders now anticipate stronger US jobs data due later today which added to the USD strength.
EUR/JPY Technical Levels
To the upside, the next resistance is located at 137 levels and above which it could extend gains 137.79 (June 30 High) levels. To the downside immediate support might be located at 135.84 (June 30 Low) below that at 135.09 (June 1 Low) levels.