19 Aug 2015
EUR/JPY firm on dollar weakness ahead of FOMC minutes
FXStreet (Guatemala) - EUR/JPY is currently trading at 137.23 with a high of 137.29 and a low of 137.07.
EUR/JPY has been inching higher on the recovery consolidation period supported on the 137 handle. We have had the Japanese trade data that came in for July at JPY -268.1 bln vs JPY -53.0 bln expected and a prior revision of JPY -70.5 bln, with the adjusted reading at JPY -368.8 bln vs JPY -158.6 bln exp.
USD/JPY has started to lose grip of the mid point on the 124 handle in early Tokyo pressuring the cross to some degree but the move is in the greenback with EUR/USD ticking higher along the progressive minor recovery out of the consolidate supporting zone ahead of todays FOMC minutes.
EUR/JPY levels
The 200 day moving average at 136.91 is a major support while the cross begins to make an advance. Karen Jones, chief analyst at Commerzbank explain, "Only an unexpected slip below the 135.00 level would open up the possibility of a slide to key support at 133.30/10, the lows seen since May, unfolding.
EUR/JPY has been inching higher on the recovery consolidation period supported on the 137 handle. We have had the Japanese trade data that came in for July at JPY -268.1 bln vs JPY -53.0 bln expected and a prior revision of JPY -70.5 bln, with the adjusted reading at JPY -368.8 bln vs JPY -158.6 bln exp.
USD/JPY has started to lose grip of the mid point on the 124 handle in early Tokyo pressuring the cross to some degree but the move is in the greenback with EUR/USD ticking higher along the progressive minor recovery out of the consolidate supporting zone ahead of todays FOMC minutes.
EUR/JPY levels
The 200 day moving average at 136.91 is a major support while the cross begins to make an advance. Karen Jones, chief analyst at Commerzbank explain, "Only an unexpected slip below the 135.00 level would open up the possibility of a slide to key support at 133.30/10, the lows seen since May, unfolding.