24 Jul 2015
EUR/JPY capped below 136 handle
FXStreet (Mumbai) - The cross in EUR/JPY remains heavily offered during the European session, largely on the back of broad euro weakness following weaker Euro zone manufacturing PMIs.
EUR/JPY recovers from 135.54
Currently, the EUR/JPY pair trades -0.29% at 135.27, giving away 136 handle on tepid EZ data. The cross came under selling pressure after two of the euro zone's largest economies – Germany and France disappointed with their PMI readings.
While USD/JPY trades water around 124 handle, completely ignoring broad based US dollar strength as markets now eye fresh cues from the upcoming US economic data later in the US session.
EUR/JPY Technical Levels
To the upside, the next resistance is located at 136 levels and above which it could extend gains 136.28 (Today’s High) levels. To the downside immediate support might be located at 134.90 below that at 134.57 levels.
EUR/JPY recovers from 135.54
Currently, the EUR/JPY pair trades -0.29% at 135.27, giving away 136 handle on tepid EZ data. The cross came under selling pressure after two of the euro zone's largest economies – Germany and France disappointed with their PMI readings.
While USD/JPY trades water around 124 handle, completely ignoring broad based US dollar strength as markets now eye fresh cues from the upcoming US economic data later in the US session.
EUR/JPY Technical Levels
To the upside, the next resistance is located at 136 levels and above which it could extend gains 136.28 (Today’s High) levels. To the downside immediate support might be located at 134.90 below that at 134.57 levels.