5 Mar 2015
German factors orders ignored by EUR/JPY pair
FXStreet (Mumbai) - The EUR/JPY pair ignored the disappointing German factory orders data released today. The pair continues to trade largely unchanged around 132.25 post the data release.
EUR/JPY: At more than one month low
The pair is trading at a level last seen on Jan. 26th as the shared currency has been sold-off aggressively ahead of the European Central Bank (ECB) meeting . The bank is expected to announce the details of its QE program and begin the bond purchases from the current month. In the meantime, the German factory orders data in for January, which fell 0.1% year-on-year in Jan, was largely ignored by the pair.
EUR/JPY Technical Levels
The immediate support is seen at 132.00, under which losses could be extended to 131.23 levels. On the flip side, resistance is seen at 132.65, above which gains could be extended to 133.00 levels.
EUR/JPY: At more than one month low
The pair is trading at a level last seen on Jan. 26th as the shared currency has been sold-off aggressively ahead of the European Central Bank (ECB) meeting . The bank is expected to announce the details of its QE program and begin the bond purchases from the current month. In the meantime, the German factory orders data in for January, which fell 0.1% year-on-year in Jan, was largely ignored by the pair.
EUR/JPY Technical Levels
The immediate support is seen at 132.00, under which losses could be extended to 131.23 levels. On the flip side, resistance is seen at 132.65, above which gains could be extended to 133.00 levels.