EUR/JPY rejected just below 113 handle, US data in focus

The cross in the EUR/JPY stalled its steady recovery path just shy of 113 handle, now pushing lower in a bid to retest resistance-turned support of hourly 20-SMA located at 112.64.

EUR/JPY awaits US data, Yellen and Draghi

The EUR/JPY pair rises +0.10% to 112.76, retreating from session highs previously posted at 112.89. EUR/JPY retraces a part of today’s recovery so far this session as the USD/JPY pair trims gains amid stalled USD buying.

While a phase of downside consolidation in the EUR/USD pair ahead of central banks’ speeches, also weighs on EUR/JPY somewhat. In absence of major fundamental news in the European session, the cross will be at the mercy of the USD dynamics and risk trends.

EUR/JPY Levels to consider  

The pair has an immediate resistance at 113.50 (psychological levels) and from there to 113.88 (50-DMA) and 114.00 (20-DMA) next. On the flip side, next supports are seen at 112.64 (1h 200-SMA) and 112.50 (psychological levels) below which it could extend losses to towards 112.02 (post-FOMC low).