29 Aug 2013
EUR/JPY trading sideways on mixed news
FXstreet.com (Athens) - The EUR/JPY trades above 130.00 area, as flight to safety eases.
The EUR/JPY sitting well above 130.00 level; firmer thanks to UK Opposition leader David Miliband
UK Opposition leader David Miliband has effectively delayed military action by the West in Syria for a few days. As usually happens in politics globe, US almost always asks for UK’s assistance to move on, especially in aspects of war. Therefore, investors might not find out of the blue the fact, that President Obama stated that ‘he had not yet decided on the military option against Syria’. What’s more, EU's Rehn said ‘it's premature to say that Europe's crisis is over’, while BoJ's Morimoto says ‘biggest risk is overseas economy’.
Technical outlook on EUR/JPY
At the time of writing, the pair is trading at 130.15, down 0.07%. The FXstreet.com Trend Index shows the pair to be slightly bearish. Daily pivot point support can be found at 129.67, 128.10, 127.86 and resistance at 130.60, 131.20 and 132.01 respectively.
The EUR/JPY sitting well above 130.00 level; firmer thanks to UK Opposition leader David Miliband
UK Opposition leader David Miliband has effectively delayed military action by the West in Syria for a few days. As usually happens in politics globe, US almost always asks for UK’s assistance to move on, especially in aspects of war. Therefore, investors might not find out of the blue the fact, that President Obama stated that ‘he had not yet decided on the military option against Syria’. What’s more, EU's Rehn said ‘it's premature to say that Europe's crisis is over’, while BoJ's Morimoto says ‘biggest risk is overseas economy’.
Technical outlook on EUR/JPY
At the time of writing, the pair is trading at 130.15, down 0.07%. The FXstreet.com Trend Index shows the pair to be slightly bearish. Daily pivot point support can be found at 129.67, 128.10, 127.86 and resistance at 130.60, 131.20 and 132.01 respectively.