4 Dec 2015
EUR/JPY sidelined below 134.00
FXStreet (Edinburgh) - The violent upside of the single currency on Thursday has lifted EUR/JPY beyond the 134.00 handle, although it has deflated some pips towards 133.80 since then.
EUR/JPY looks to Payrolls
The cross is now following the flatish performance of the shared currency ahead of the opening bell in Euroland, trading in a consolidative pattern in the upper-133.00s ahead of US Non-farm Payrolls due later (200K exp.).
In line with the upbeat mood around EUR following the ECB statement, the cross advanced over 400 pips to print fresh multi-week highs near 134.50, albeit giving up some gains soon after. In the meantime, markets are poised for a cautious trade ahead of the European open and the publication of November’s Payrolls in the US economy.
EUR/JPY significant levels
The cross is down 0.22% at 133.81 and a break below 133.23 (38.2% Fibo of 139.09-129.61) would aim for 131.84 (23.6% Fibo of 139.09-129.61) and finally 129.72 (low Nov.25). On the other hand, the next hurdle lines up at 134.65 (100-day sma) ahead of 135.47 (61.8% Fibo of 139.09-129.61) and then 137.01 (monthly high Oct.9).
EUR/JPY looks to Payrolls
The cross is now following the flatish performance of the shared currency ahead of the opening bell in Euroland, trading in a consolidative pattern in the upper-133.00s ahead of US Non-farm Payrolls due later (200K exp.).
In line with the upbeat mood around EUR following the ECB statement, the cross advanced over 400 pips to print fresh multi-week highs near 134.50, albeit giving up some gains soon after. In the meantime, markets are poised for a cautious trade ahead of the European open and the publication of November’s Payrolls in the US economy.
EUR/JPY significant levels
The cross is down 0.22% at 133.81 and a break below 133.23 (38.2% Fibo of 139.09-129.61) would aim for 131.84 (23.6% Fibo of 139.09-129.61) and finally 129.72 (low Nov.25). On the other hand, the next hurdle lines up at 134.65 (100-day sma) ahead of 135.47 (61.8% Fibo of 139.09-129.61) and then 137.01 (monthly high Oct.9).