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14 Jun 2013
EUR/JPY stabilizes in negative territory after EMU CPI
FXstreet.com (New York) - The EUR/JPY foreign exchange rate has traded unevenly Friday, surrounding a recent tranche of economic data out of the EMU.
EUR/JPY stable on expected EMU figures
In the EMU, Consumer Price Index (YoY) grew +1.4% in May, in line with expectations. Moreover, the Consumer Price Index – Core (YoY) has climbed +1.2% in May, also matching estimates. Finally, the Consumer Price Index (MoM) yielded +0.1% in May, once again coming in at the same projected figure.
In these moments, the pair is trading at 126.70, down -0.66% below it’s opening. Outlining the technicals, Mataf.net analysts identify the next short-term supports at 124.77, then 123.30, and 121.65. Meanwhile, resistance lies ahead at 1.3295, ahead of 127.89, and 129.54, and 131.01.
EUR/JPY stable below broken support
According to the Technical Analyst Team at ICN.com, “The EUR/JPY is still stable below the previously broken support level, so we prefer the downside move over intraday basis whereas it requires breaking 125.75 and stabilizing below it with four-hour closing to extend bearishness – the awaited targets start at 123.85.”
EUR/JPY stable on expected EMU figures
In the EMU, Consumer Price Index (YoY) grew +1.4% in May, in line with expectations. Moreover, the Consumer Price Index – Core (YoY) has climbed +1.2% in May, also matching estimates. Finally, the Consumer Price Index (MoM) yielded +0.1% in May, once again coming in at the same projected figure.
In these moments, the pair is trading at 126.70, down -0.66% below it’s opening. Outlining the technicals, Mataf.net analysts identify the next short-term supports at 124.77, then 123.30, and 121.65. Meanwhile, resistance lies ahead at 1.3295, ahead of 127.89, and 129.54, and 131.01.
EUR/JPY stable below broken support
According to the Technical Analyst Team at ICN.com, “The EUR/JPY is still stable below the previously broken support level, so we prefer the downside move over intraday basis whereas it requires breaking 125.75 and stabilizing below it with four-hour closing to extend bearishness – the awaited targets start at 123.85.”