16 Dec 2014
EUR/JPY propelled by risk aversion and strong EZ data
FXStreet (Guatemala) - EUR/JPY is trading at 146.72, up 0.22% on the day, having posted a daily high at 147.05 and low at 144.96.
EUR/JPY has been better bid on risk aversion as markets look for safer havens out of the EM’s and Scandi’s and into EUR and Sterling. The cross has taken out the resistance of 145.80/00 since the decline and break of the 147.00 support that now turns to resistance. This level has been struck but good offers have protected the level so far while only managing 3 pips into the handle.
Eurozone Markit PMI’s came in strong including German Manufacturing at 51.2 vs 50.4 consensus and much higher than Novembers 49.5 also lifting the Euro into the high 1.25’s in Europe and taking the cross away from the lows in the 1.45 handle. USD/JPY has also caught a bounce from below 116 handle and moves back into less negative territory in the 117’s but remaining below key 117.60/80 resistance.
EUR/JPY has been better bid on risk aversion as markets look for safer havens out of the EM’s and Scandi’s and into EUR and Sterling. The cross has taken out the resistance of 145.80/00 since the decline and break of the 147.00 support that now turns to resistance. This level has been struck but good offers have protected the level so far while only managing 3 pips into the handle.
Eurozone Markit PMI’s came in strong including German Manufacturing at 51.2 vs 50.4 consensus and much higher than Novembers 49.5 also lifting the Euro into the high 1.25’s in Europe and taking the cross away from the lows in the 1.45 handle. USD/JPY has also caught a bounce from below 116 handle and moves back into less negative territory in the 117’s but remaining below key 117.60/80 resistance.