30 Oct 2013
EUR/JPY consolidates at weekly highs
FXstreet.com (Córdoba) - The EUR/JPY remained little changed near weekly highs after data showed Eurozone consumer confidence improved slightly in October, in line with expectations.
Even though confidence data went virtually unnoticed, the euro managed to advance to a fresh 1-week high against the yen at 135.23 during the European session but lacked momentum to make an approach to its 4-year high scored at 135.49 last week. At time of writing, EUR/JPY is trading at the 135.15/20 area, recording a 0.2% gain Wednesday.
EUR/JPY levels to watch
In terms of technical levels, if EUR/JPY breaks above 135.23 (daily high), next resistances are seen at 135.49 (Oct 22 high) 135.71 (Nov 4 2009 high). On the other hand, supports could be found at 134.75 (daily low) and 134.48 (10-day SMA).
Even though confidence data went virtually unnoticed, the euro managed to advance to a fresh 1-week high against the yen at 135.23 during the European session but lacked momentum to make an approach to its 4-year high scored at 135.49 last week. At time of writing, EUR/JPY is trading at the 135.15/20 area, recording a 0.2% gain Wednesday.
EUR/JPY levels to watch
In terms of technical levels, if EUR/JPY breaks above 135.23 (daily high), next resistances are seen at 135.49 (Oct 22 high) 135.71 (Nov 4 2009 high). On the other hand, supports could be found at 134.75 (daily low) and 134.48 (10-day SMA).