3 Sep 2013
EURJPY consolidates above 131.00 area
FXstreet.com (Athens) - The EUR/JPY, managed to sustain its yesterday big gains and still hovering around 131.16 area, amidst well supported Treasury yields and robust equities and credit.
The EUR/JPY still on the upper level, as ‘Abenomics’ seem to be still in a solid track
Since the opening of Asian’s Tuesday trading, the pair was trading upwards as Nikkei has closed up to 3% and so, the Japanese currency has been softening this morning. What’s more, ‘Abenomics’ seem to be still in a great track, as the release of the monthly update on the monetary base showed the BoJ continuing to press ahead with the Abenomics revolution and massively expand banks’ reserves; the monetary base was up 42.0% in yearly basis. The easing of investor pessimism over the growth outlook for China and less risk averse trading conditions due to yesterday’s beating PMI’s, might give further uptrend momentum to the pair.
Technical outlook on EUR/JPY
At the time of writing, the pair is trading at 131.17, up 0.11%. The FXstreet.com Trend Index shows the pair to be slightly bullish in the 15 minutes chart. Daily pivot point support can be found at 129.67, 128.10, 127.86 and resistance at 131.36, 131.62 and 132.03, respectively.
The EUR/JPY still on the upper level, as ‘Abenomics’ seem to be still in a solid track
Since the opening of Asian’s Tuesday trading, the pair was trading upwards as Nikkei has closed up to 3% and so, the Japanese currency has been softening this morning. What’s more, ‘Abenomics’ seem to be still in a great track, as the release of the monthly update on the monetary base showed the BoJ continuing to press ahead with the Abenomics revolution and massively expand banks’ reserves; the monetary base was up 42.0% in yearly basis. The easing of investor pessimism over the growth outlook for China and less risk averse trading conditions due to yesterday’s beating PMI’s, might give further uptrend momentum to the pair.
Technical outlook on EUR/JPY
At the time of writing, the pair is trading at 131.17, up 0.11%. The FXstreet.com Trend Index shows the pair to be slightly bullish in the 15 minutes chart. Daily pivot point support can be found at 129.67, 128.10, 127.86 and resistance at 131.36, 131.62 and 132.03, respectively.