4 Sep 2015
EUR/JPY pressures below hourly 50 SMA
FXStreet (Guatemala) - EUR/JPY is consolidating the downside after the Nonfarm Payrolls sell-off when the pair dropped from the vicinity of the 50 SMA on the hourly chart at 135.07 and landed a low score of 132.26 after an initial high of 132.96.
In respect of the Nonfarm Payrolls, “The softest part of the survey was the payrolls headline itself. At +173K", explained Rob Carnell, Chief International Economist at ING, who noted that the US labour report was a mixed back and was not sufficiently strong enough for the Fed to proceed with its September lift-off plans. "There were no signs of surge in payrolls to back up falls in the unemployment rate and rising wages."
The move to the downside was mostly directed by the greenback and that, despite the number missing expectations, still managed to garner support and EUR/USD is however losing territory from 1.1236 to 1.1089 lows.
EUR/JPY downside levels exposed
Meanwhile, USD/JPY has managed to recover from the post data lows of 118.58 and drifted decisively, on the bid, back to the 119 handle and is at the highs currently of the move at 119.36, despite S&P futures being - 0.95% at time of writing. EUR/USD is, however, losing territory from 1.1236 to 1.1089 lows. For the cross, the 2013-2015 support line at 127.39 currently and exposed. Karen Jones, chief analyst at commerzbank explained that Initial support will be the 131.80 then 129.28 Fibonacci retracements of the move seen this year
In respect of the Nonfarm Payrolls, “The softest part of the survey was the payrolls headline itself. At +173K", explained Rob Carnell, Chief International Economist at ING, who noted that the US labour report was a mixed back and was not sufficiently strong enough for the Fed to proceed with its September lift-off plans. "There were no signs of surge in payrolls to back up falls in the unemployment rate and rising wages."
The move to the downside was mostly directed by the greenback and that, despite the number missing expectations, still managed to garner support and EUR/USD is however losing territory from 1.1236 to 1.1089 lows.
EUR/JPY downside levels exposed
Meanwhile, USD/JPY has managed to recover from the post data lows of 118.58 and drifted decisively, on the bid, back to the 119 handle and is at the highs currently of the move at 119.36, despite S&P futures being - 0.95% at time of writing. EUR/USD is, however, losing territory from 1.1236 to 1.1089 lows. For the cross, the 2013-2015 support line at 127.39 currently and exposed. Karen Jones, chief analyst at commerzbank explained that Initial support will be the 131.80 then 129.28 Fibonacci retracements of the move seen this year