24 Jul 2014
EUR/JPY bounces after PMIs
FXStreet (Córdoba) - The EUR/JPY bounced from a 5-month low and turned intraday positive after data showed German and Eurozone preliminary PMIs for July unexpectedly rose.
The Markit manufacturing PMI for Germany rose to 52.9 vs 52.0 expected, while the services PMI reached 56.6 vs 54.5 expected. As for the Eurozone as a whole, manufacturing index rose to 51.9 vs 51.7 expected while services’ climbed to 54.4 against 52.7 forecasted.
The EUR/JPY was lifted by data and retested daily highs at the 136.75 area. At time of writing, the pair is trading at 136.70, 0.07% above its opening price.
EUR/JPY technical levels
As for technical levels, the EUR/JPY could find next resistances at 136.75 (Jul 23 high), 136.88 (Jul 21 low) and 137.24 (10-day SMA). On the flip side, supports are seen at 136.22 (Feb 4 low), 136.01/00 (Nov 22 low/psychological level) and 135.71 (Nov 19 high).
The Markit manufacturing PMI for Germany rose to 52.9 vs 52.0 expected, while the services PMI reached 56.6 vs 54.5 expected. As for the Eurozone as a whole, manufacturing index rose to 51.9 vs 51.7 expected while services’ climbed to 54.4 against 52.7 forecasted.
The EUR/JPY was lifted by data and retested daily highs at the 136.75 area. At time of writing, the pair is trading at 136.70, 0.07% above its opening price.
EUR/JPY technical levels
As for technical levels, the EUR/JPY could find next resistances at 136.75 (Jul 23 high), 136.88 (Jul 21 low) and 137.24 (10-day SMA). On the flip side, supports are seen at 136.22 (Feb 4 low), 136.01/00 (Nov 22 low/psychological level) and 135.71 (Nov 19 high).