17 Mar 2015
EUR/JPY flattish post BOJ, 129 in sight
FXStreet (Mumbai) - EUR/JPY traded almost unchanged in mid-Asia, as traders continue to digest the latest BOJ statement with the central bank decided to maintain its qualitative and quantitative easing (QQE) program as policymakers wait to see where inflation expectations are heading.
EUR/JPY holds above 128 handle
Currently, the EUR/JPY cross traded flat at 128.27 levels, having previously posted session lows at 128.16. The cross in EUR/JPY remains muted in a quiet Asian session with the key BOJ turned out to be non-event. On the other end, the euro trades flat against the greenback awaiting fresh cues from the upcoming ZEW data.
Meanwhile, a side-ways movement may be seen in the cross ahead of BOJ press conference due out shortly which may provide further yen moves. At the moment, USD/JPY trades flat at 121.36 and EUR/USD also remains unchanged at 1.0565 levels.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 128.50 and above which it could extend gains to at 129.13 (5-DMA) levels. To the downside immediate support might be located at 128 levels below that at 127.59 (March 11 Low) levels.
EUR/JPY holds above 128 handle
Currently, the EUR/JPY cross traded flat at 128.27 levels, having previously posted session lows at 128.16. The cross in EUR/JPY remains muted in a quiet Asian session with the key BOJ turned out to be non-event. On the other end, the euro trades flat against the greenback awaiting fresh cues from the upcoming ZEW data.
Meanwhile, a side-ways movement may be seen in the cross ahead of BOJ press conference due out shortly which may provide further yen moves. At the moment, USD/JPY trades flat at 121.36 and EUR/USD also remains unchanged at 1.0565 levels.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 128.50 and above which it could extend gains to at 129.13 (5-DMA) levels. To the downside immediate support might be located at 128 levels below that at 127.59 (March 11 Low) levels.