Spanish Vote: EUR/JPY flat lined, no evidence of safe haven flows

Catalonia's independence referendum fell into chaos on Sunday. Just after midnight, the Catalan government said that the referendum had been approved by 90% of some 2.3 million voters. Meanwhile, Spanish government declared that the referendum had been disrupted.

The common currency may have suffered moderate losses vs. USD in early Asia, however, there are no signs of safe haven flows.

This is evident from the EUR/JPY pair, which recovered from the session low of 132.67 to trade flat lined on the day around 132.90 levels.

The resilience in the EUR/JPY pair adds credence to a Reuters news report, which says, " dealers have seen no real selling of euros as yet and neither was there any flow to safe havens, with investors reserving judgement."

Apart from the Spanish news vote, investors could also take cues from the Eurozone PMI number and the unemployment rate.

EUR/JPY Technical Levels

 A break above 133.13 [1-hour 200-MA] would open doors for133.25 [Sep 20 high], above which a major hurdle is seen directly at 134.41 [Sep 22 high]. On the downside, breach of support at 132.72 [1-hour 50-MA] would expose 132.54 [1-hour 100-MA] and 132.29 [Friday's low].