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12 Jun 2013
EUR/JPY eases off highs to 128.12/15
FXstreet.com (New York) - The EUR/JPY technical cross managed to pare some of yesterdays losses, however the upside movement was capped at 129.37 (session high) during European trading.
In the EMU, Industrial Production w.d.a. (YoY) has fallen only -0.6% in April, beating expectations of -1.2%. Moreover, Industrial Production s.a. (MoM) has netted a climb of +0.4% in April, vs. a projection of -0.2%.
At the time of writing, the EUR/JPY foreign exchange has eased off its highs towards 128.12/15, still up +0.19%. In light of this movement, Mataf.net analysts calculate further resistive measures for the pair at 130.59, onto 132.88, and 134.63. On the decline, a break below the 126.55 handle will initiate supports at 124.80 and 122.51.
EUR/JPY bullish movement targets 128.45
“The EUR/JPY broke the upside support level leading it to the downside over intraday basis, but is attempting to trade positively forcing us to remain neutral waiting for another daily closing below 128.45. This closing will lead the pair towards 126.15 levels, while stability above 128.45 will bring the bullish momentum back to the pair.” notes the Technical Analyst Team at ICN.com.
In the EMU, Industrial Production w.d.a. (YoY) has fallen only -0.6% in April, beating expectations of -1.2%. Moreover, Industrial Production s.a. (MoM) has netted a climb of +0.4% in April, vs. a projection of -0.2%.
At the time of writing, the EUR/JPY foreign exchange has eased off its highs towards 128.12/15, still up +0.19%. In light of this movement, Mataf.net analysts calculate further resistive measures for the pair at 130.59, onto 132.88, and 134.63. On the decline, a break below the 126.55 handle will initiate supports at 124.80 and 122.51.
EUR/JPY bullish movement targets 128.45
“The EUR/JPY broke the upside support level leading it to the downside over intraday basis, but is attempting to trade positively forcing us to remain neutral waiting for another daily closing below 128.45. This closing will lead the pair towards 126.15 levels, while stability above 128.45 will bring the bullish momentum back to the pair.” notes the Technical Analyst Team at ICN.com.