16 Jan 2015
EUR/JPY uninspired by Eurozone CPI data
FXStreet (Mumbai) - The EUR/JPY pair trades largely unchanged after the official data in the Eurozone confirmed inflation at the lowest level since 2009.
At the time of writing, the pair traded at 135.38; largely unchanged from the pre-data level of 135.44. The final reading for the Eurozone December CPI came-in line with the estimate of -0.2% year-on-year. Meanwhile, core inflation in December fell to 0.7% year-on-year, from the initial estimate of 0.8%. The EUR/USD pair hardly reacted despite of a fall in core inflation. Meanwhile, the USD/JPY pair continues to trade around 116.40 levels amid lack of fresh cues from the Treasury yields. Consequently, the EUR/JPY remained largely unchanged post the release of the inflation data in the Eurozone.
EUR/JPY Technical Levels
The immediate resistance is seen at 135.93, above which gains could be extended to 136.85 levels. Meanwhile, support is seen at 135.13 and 134.70 levels.
At the time of writing, the pair traded at 135.38; largely unchanged from the pre-data level of 135.44. The final reading for the Eurozone December CPI came-in line with the estimate of -0.2% year-on-year. Meanwhile, core inflation in December fell to 0.7% year-on-year, from the initial estimate of 0.8%. The EUR/USD pair hardly reacted despite of a fall in core inflation. Meanwhile, the USD/JPY pair continues to trade around 116.40 levels amid lack of fresh cues from the Treasury yields. Consequently, the EUR/JPY remained largely unchanged post the release of the inflation data in the Eurozone.
EUR/JPY Technical Levels
The immediate resistance is seen at 135.93, above which gains could be extended to 136.85 levels. Meanwhile, support is seen at 135.13 and 134.70 levels.