30 Apr 2014
EUR/JPY off lows, Eurozone data eyed
FXStreet (Córdoba) - The EUR/JPY managed to pause its decline and bounced from lows during the European session despite disappointing German retail sales data.
The EUR/JPY extended losses into a second day and bottomed out at 141.11 after the BoJ refrained from announcing new measures as expected. However, the pair found firm support at that level and recovered slightly. At time of writing, the EUR/JPY is trading at the 141.30 area, still 0.32% down on the day, having retreated from a 4-week high of 142.46 Tuesday.
Investors will now be watching Eurozone CPI data due at 9:00 GMT following yesterday German CPI disappointment.
EUR/JPY levels to watch
In terms of technical levels, the EUR/JPY could find next supports at 141.11 (Apr 30 low), 141.00 (psychological level) and 140.64 (Apr 10 low). On the other hand, resistances are seen at 141.79 (Apr 30 high), 142.00 (psychological level) and 142.46 (Apr 29 high).
The EUR/JPY extended losses into a second day and bottomed out at 141.11 after the BoJ refrained from announcing new measures as expected. However, the pair found firm support at that level and recovered slightly. At time of writing, the EUR/JPY is trading at the 141.30 area, still 0.32% down on the day, having retreated from a 4-week high of 142.46 Tuesday.
Investors will now be watching Eurozone CPI data due at 9:00 GMT following yesterday German CPI disappointment.
EUR/JPY levels to watch
In terms of technical levels, the EUR/JPY could find next supports at 141.11 (Apr 30 low), 141.00 (psychological level) and 140.64 (Apr 10 low). On the other hand, resistances are seen at 141.79 (Apr 30 high), 142.00 (psychological level) and 142.46 (Apr 29 high).