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23 Sep 2013
EUR/JPY retreats further from multi-year highs
FXstreet.com (Córdoba) - The EUR/JPY extended its pullback from a nearly 4-year high Monday, as the shared currency faces some pressure after mixed PMI figures and as the German election euphoria fades.
EUR/JPY weighed by manufacturing PMI's
Even though services PMI came in stronger than expected in France, Germany and the Eurozone as a whole, all three manufacturing PMI's disappointed, weighing on the euro. EUR/JPY has dropped more than 90 pips throughout the day, and recently bottomed out at 133.54, having been rejected from a peak of 134.93 last Thursday.
EUR/JPY technical levels
At time of writing, EUR/JPY is trading at the 133.70 zone, recording a 0.6% loss on the day. On the downside, if EUR/JPY breaks below 133.54, next supports are seen at 133.40 (100-hour SMA) and 133.00 (psychological level). On the other hand, resistances could be found at 134.15 (20-hour SMA), 134.72 (Sep 20 high) and then 134.93 (2013 high Sep 19).
EUR/JPY weighed by manufacturing PMI's
Even though services PMI came in stronger than expected in France, Germany and the Eurozone as a whole, all three manufacturing PMI's disappointed, weighing on the euro. EUR/JPY has dropped more than 90 pips throughout the day, and recently bottomed out at 133.54, having been rejected from a peak of 134.93 last Thursday.
EUR/JPY technical levels
At time of writing, EUR/JPY is trading at the 133.70 zone, recording a 0.6% loss on the day. On the downside, if EUR/JPY breaks below 133.54, next supports are seen at 133.40 (100-hour SMA) and 133.00 (psychological level). On the other hand, resistances could be found at 134.15 (20-hour SMA), 134.72 (Sep 20 high) and then 134.93 (2013 high Sep 19).