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6 Feb 2015
EUR/JPY strives for 135
FXStreet (Mumbai) - EUR/JPY gave back previous gains and edged lower in the late-Asian session on profit-taking as traders seemed to have exited long positions as caution prevails ahead of US macro data.
Trades choppy around 134.60 levels
Currently, the EUR/JPY pair traded at 134.63 levels, down -0.19% on the day, recovering from previously posted day’s low at 134.45 levels. The weakness seen in EUR/JPY cross is largely on the back of a stronger yen versus the greenback as traders preferred to remain on the sidelines before the Europe open. Besides, EUR/JPY will be influenced by set of macroeconomic data from Germany and US later today, since there is no data expected from the Japan.
Meanwhile, the cross is expected to remain pressured unless it breaks above 134.83 levels. At the moment, EUR/USD trades flat at 1.1469 levels, while USD/JPY trades -0.13% lower on the day at 117.37 levels.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 134.83 and above which it could extend gains to at 135.21 levels. To the downside immediate support might be located at 134.19 levels below that at 133.80 levels.
Trades choppy around 134.60 levels
Currently, the EUR/JPY pair traded at 134.63 levels, down -0.19% on the day, recovering from previously posted day’s low at 134.45 levels. The weakness seen in EUR/JPY cross is largely on the back of a stronger yen versus the greenback as traders preferred to remain on the sidelines before the Europe open. Besides, EUR/JPY will be influenced by set of macroeconomic data from Germany and US later today, since there is no data expected from the Japan.
Meanwhile, the cross is expected to remain pressured unless it breaks above 134.83 levels. At the moment, EUR/USD trades flat at 1.1469 levels, while USD/JPY trades -0.13% lower on the day at 117.37 levels.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 134.83 and above which it could extend gains to at 135.21 levels. To the downside immediate support might be located at 134.19 levels below that at 133.80 levels.