9 Dec 2013
EUR/JPY off highs but nicely higher for session on “risk on” mood and sluggish Japanese data
FXstreet.com (Barcelona) - EUR/JPY continued to rip higher Monday on strong Chinese data which created a “risk on” environment and sluggish Japanese GDP which further weighed on the Yen.
EUR/JPY traders will be watching German and EU data – as well as risk mood
Potentially market-moving data will be released in the form of German Trade Balance and industrial Production data as well as European Sentix Investor Confidence numbers. Prior to that, though, Chinese inflation data will be released which will certainly have global traders’ attention – including those playing the EUR/JPY.
Technical outlook for EUR/JPY
Technicians say the EUR/JPY is now on a bee-line to the next potential Fibonacci resistance level at 142.43. Support comes in at Monday’s high of 140 and is followed up by Wednesday’s low of 138.42.
EUR/JPY traders will be watching German and EU data – as well as risk mood
Potentially market-moving data will be released in the form of German Trade Balance and industrial Production data as well as European Sentix Investor Confidence numbers. Prior to that, though, Chinese inflation data will be released which will certainly have global traders’ attention – including those playing the EUR/JPY.
Technical outlook for EUR/JPY
Technicians say the EUR/JPY is now on a bee-line to the next potential Fibonacci resistance level at 142.43. Support comes in at Monday’s high of 140 and is followed up by Wednesday’s low of 138.42.