24 Sep 2013
EUR/JPY retreats from 133.50; approaching 61.8% Fibo pullback
FXstreet.com (Chicago) - EUR/JPY accumulates minimal 0.10% losses after reaching 134.03 momentarily earlier today but falling back to the 133.20 zone. The pair reached 132.69 bottoms at the opening of the European markets but stabilizes in the American session.
Earlier data & today
Euro-zone data was mixed with the Markit manufacturing PMI for September at 51.1 vs. past 51.4 and expected 51.8. The Markit PMI composite was 52.1 vs. expected 51.9 and past results at 51.5. The Markit services PMI was 52.1 vs. past 50.7 and projections at 51.1. Germany’s Market Manufacturing PMI was 51.3 vs. expected 52.2 but its Markit services PMI was 54.4 vs. projected 53.1 on data released yesterday. The business climate for September was 107.7 released today vs. expected 108.2 while the current assessment was 111.4 vs. expected 112.5. In Japan, the yen traded strong throughout the Asian session and the Nikkei 225 closed 0.07% down.
EUR/JPY Technical Levels
Technically speaking, the pair trades at 133.18 and oscillates between supports aligned at 132.91 (September 19th lows), 132.61 (September 17th highs) followed by 132.15 (September 9th highs) and resistances set at 133.33 (September 10th highs), 133.80 (September 23rd highs) ahead of 134.28 (September 20th lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis, trades above the EMA20 and approaches the 61.8% level from last September 18th bottom.
Earlier data & today
Euro-zone data was mixed with the Markit manufacturing PMI for September at 51.1 vs. past 51.4 and expected 51.8. The Markit PMI composite was 52.1 vs. expected 51.9 and past results at 51.5. The Markit services PMI was 52.1 vs. past 50.7 and projections at 51.1. Germany’s Market Manufacturing PMI was 51.3 vs. expected 52.2 but its Markit services PMI was 54.4 vs. projected 53.1 on data released yesterday. The business climate for September was 107.7 released today vs. expected 108.2 while the current assessment was 111.4 vs. expected 112.5. In Japan, the yen traded strong throughout the Asian session and the Nikkei 225 closed 0.07% down.
EUR/JPY Technical Levels
Technically speaking, the pair trades at 133.18 and oscillates between supports aligned at 132.91 (September 19th lows), 132.61 (September 17th highs) followed by 132.15 (September 9th highs) and resistances set at 133.33 (September 10th highs), 133.80 (September 23rd highs) ahead of 134.28 (September 20th lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis, trades above the EMA20 and approaches the 61.8% level from last September 18th bottom.