27 Oct 2015
EUR/JPY cracks 133.00, lowest in 7-weeks
FXStreet (Mumbai) - The EUR/JPY cross met fresh supply near 133.40 region and accelerated to the downside near 133 handle, mainly driven by strengthening yen across the board.
EUR/JPY tested hourly S2 at 132.90
Currently, the EUR/JPY pair loses -0.61% to 133.06, bouncing-off fresh seven-week lows struck at 132.92 last minutes. The offered tone in the EUR/JPY cross keeps growing bigger in the mid-European session, solely on the back of a renewed spike of buying interest in the yen amid increased nervousness ahead of central banks’ events.
Adding to the negative sentiment, the EUR/USD pair keeps losses and trades near daily lows with markets now shifting their attention towards key US data releases, viz., durable goods orders and consumer confidence.
EUR/JPY Technical Levels
To the downside, the cross finds immediate support at 132.90 (h1 S2 + daily low), below that 132.74/51 (daily S2 + Sept 7 Low), could act as a major support. To the upside, the next resistance lies at 133.25/33 (h1 5 & 10--SMA), above which it could extend gains to 133.5629 (h1 50-SMA + daily pivot).
EUR/JPY tested hourly S2 at 132.90
Currently, the EUR/JPY pair loses -0.61% to 133.06, bouncing-off fresh seven-week lows struck at 132.92 last minutes. The offered tone in the EUR/JPY cross keeps growing bigger in the mid-European session, solely on the back of a renewed spike of buying interest in the yen amid increased nervousness ahead of central banks’ events.
Adding to the negative sentiment, the EUR/USD pair keeps losses and trades near daily lows with markets now shifting their attention towards key US data releases, viz., durable goods orders and consumer confidence.
EUR/JPY Technical Levels
To the downside, the cross finds immediate support at 132.90 (h1 S2 + daily low), below that 132.74/51 (daily S2 + Sept 7 Low), could act as a major support. To the upside, the next resistance lies at 133.25/33 (h1 5 & 10--SMA), above which it could extend gains to 133.5629 (h1 50-SMA + daily pivot).