Back
22 Mar 2016
EUR/JPY prints session low below 125.00
The EUR/JPY pair hit a low of 124.67 in Europe after the news of a terror attack in Brussels triggered a sell-off in EUR/USD and USD/JPY pair.
Hovers above 125.00
The cross now trades around 125.10 levels with investors awaiting fresh news flow out of Brussels. An upbeat economic data releases across Eurozone – PMI and German IFO survey – received little attention from the markets.
Moreover, the terror news also triggered a drop in equities, which further added to the bid tone around Yen. The cross now waits to see the reaction in the US equities following a risk-off action in Europe.
EUR/JPY Technical Levels
The immediate support is seen at 124.67 (daily low), under which the pair could target 123.85 (Mar 8 low). A break lower would expose 123.06 (Mar 9 low). Conversely, violation of immediate hurdle of 125.22 (previous day’s low) would shift risk in favor of a rise to 125.88 (10-DMA), above which spot could target 126.27 (daily high).
Hovers above 125.00
The cross now trades around 125.10 levels with investors awaiting fresh news flow out of Brussels. An upbeat economic data releases across Eurozone – PMI and German IFO survey – received little attention from the markets.
Moreover, the terror news also triggered a drop in equities, which further added to the bid tone around Yen. The cross now waits to see the reaction in the US equities following a risk-off action in Europe.
EUR/JPY Technical Levels
The immediate support is seen at 124.67 (daily low), under which the pair could target 123.85 (Mar 8 low). A break lower would expose 123.06 (Mar 9 low). Conversely, violation of immediate hurdle of 125.22 (previous day’s low) would shift risk in favor of a rise to 125.88 (10-DMA), above which spot could target 126.27 (daily high).