24 Jun 2013
EUR/JPY holds onto gains after German ILO
FXstreet.com (New York) - The EUR/JPY foreign exchange rate has bounced off overnight levels, notching sizable gains during European trading Monday after German data.
In Germany, the IFO – Business Climate (June) came in at 105.9, matching expectations. Moreover, the IFO – Current Assessment, was reported at 109.4 in June, missing projections that were calling for 109.6. Finally, IFO – climbed Expectations climbed to 102.5 in June, vs. a consensus of 102.0.
EUR/JPY thrust does not breach resistance
Amidst the recent sideways trading, the EUR/JPY is operating at 128.85, up a robust +0.50% thus far. Technically speaking, Mataf.net analysts identify the next short-term measures of resistance at 129.78, then 130.69, and 131.69. Meanwhile, support lies below at 127.87, onto 126.87 and 125.96.
EUR/JPY bearish direction resumed?
According to the Technical Analyst Team at ICN.com, “The EUR/JPY extended the upside rebound towards its 50-day SMA, retesting the main broken ascending support. Meanwhile, price has formed a bearish shooting star candlestick pattern on Friday, suggesting it may resume the bearish direction.”
In Germany, the IFO – Business Climate (June) came in at 105.9, matching expectations. Moreover, the IFO – Current Assessment, was reported at 109.4 in June, missing projections that were calling for 109.6. Finally, IFO – climbed Expectations climbed to 102.5 in June, vs. a consensus of 102.0.
EUR/JPY thrust does not breach resistance
Amidst the recent sideways trading, the EUR/JPY is operating at 128.85, up a robust +0.50% thus far. Technically speaking, Mataf.net analysts identify the next short-term measures of resistance at 129.78, then 130.69, and 131.69. Meanwhile, support lies below at 127.87, onto 126.87 and 125.96.
EUR/JPY bearish direction resumed?
According to the Technical Analyst Team at ICN.com, “The EUR/JPY extended the upside rebound towards its 50-day SMA, retesting the main broken ascending support. Meanwhile, price has formed a bearish shooting star candlestick pattern on Friday, suggesting it may resume the bearish direction.”