13 May 2014
EUR/JPY recovery falters after ZEW data
FXStreet (Córdoba) - The recovery of the EUR/JPY faltered a few pips shy of the 141.00 mark as disappointing ZEW survey figures from the EZ and Germany put the shared currency back under pressure.
The German ZEW sentiment survey showed the indicator for economic expectations fell to 33.1 from 43.2 in April. In the Eurozone as a whole, the index fell to 55.2 from 61.2 the previous month. The euro weakened across the board following the figures, with EUR/JPY dropping more than half a cent to a fresh daily low of 140.25.
Having erased completely intraday gains, the EUR/JPY is currently trading at the 140.30 zone, recording a 0.34% loss on the day.
EUR/JPY levels to watch
In terms of technical levels,the pair could find next supports at 140.03 (May 12 low) and 139.87 (May 9 low), while on the other hand resistances are seen at 140.93 (May 13 high), 141.00 (psychological level) and 141.19 (100-day SMA).
The German ZEW sentiment survey showed the indicator for economic expectations fell to 33.1 from 43.2 in April. In the Eurozone as a whole, the index fell to 55.2 from 61.2 the previous month. The euro weakened across the board following the figures, with EUR/JPY dropping more than half a cent to a fresh daily low of 140.25.
Having erased completely intraday gains, the EUR/JPY is currently trading at the 140.30 zone, recording a 0.34% loss on the day.
EUR/JPY levels to watch
In terms of technical levels,the pair could find next supports at 140.03 (May 12 low) and 139.87 (May 9 low), while on the other hand resistances are seen at 140.93 (May 13 high), 141.00 (psychological level) and 141.19 (100-day SMA).