9 Apr 2015
EUR/JPY drops to session lows
FXStreet (Mumbai) - The EUR/JPY pair dropped to a session low of 129.32 even thought the German data showed a rise in the Trade surplus and Industrial production.
Falls for a third consecutive session
The EUR/JPY pair has been declining after the EUR/USD pair fell from 1.10 levels to 1.0760 levels. In the meantime, the USD/JPY pair has been more or less restricted in the range of 119.50-120.40 levels. As for today, the shared currency failed to strengthen even after the official data showed the industrial production rose 0.2% on Month, while the trade surplus improved slightly to EUR 19.7 billion from EUR 19.6 billion in January.
The pair dropped to a low of 129.32 levels today, as it lost more than 100 pips from the level of 130.65 seen on Tuesday.
EUR/JPY Technical Levels
The immediate resistance is seen at 129.50, above which gains could be extended to 130.07 (10-DMA). On the flip side, a break below 129.27 (Mar. 30 low), could drive the pair lower to 128.69 levels.
Falls for a third consecutive session
The EUR/JPY pair has been declining after the EUR/USD pair fell from 1.10 levels to 1.0760 levels. In the meantime, the USD/JPY pair has been more or less restricted in the range of 119.50-120.40 levels. As for today, the shared currency failed to strengthen even after the official data showed the industrial production rose 0.2% on Month, while the trade surplus improved slightly to EUR 19.7 billion from EUR 19.6 billion in January.
The pair dropped to a low of 129.32 levels today, as it lost more than 100 pips from the level of 130.65 seen on Tuesday.
EUR/JPY Technical Levels
The immediate resistance is seen at 129.50, above which gains could be extended to 130.07 (10-DMA). On the flip side, a break below 129.27 (Mar. 30 low), could drive the pair lower to 128.69 levels.