Back
12 Sep 2013
EUR/JPY survives plunge below 132.00
FXstreet.com (Lisbon) - The EUR/JPY technical cross regained control of the 132.00 barrier Thursday, following a brief plunge towards the 131.90 level (session low).
Earlier today in the EMU, Industrial Production w.d.a. (YoY) was reported at -2.1% in July, missing expectations of -0.1%. Moreover, Industrial Production s.a. (MoM) yielded a figure of -1.5% in July, also underperforming projections that called for +0.1%.
EUR/JPY strategic bias
According to the Technical Analyst Team at ICN.com, “The EUR/JPY is trading with an evident downside bias since Thursday opening, and is below 132.70 now. That could cease the positive expectations we proposed in earlier report, there fore we'll assume neutrality for a short period to see if the price is able to confirm its next direction. Note that breaking 131.80 confirms the continuation of the intraday bearish trend toward areas of 130.85.”
EUR/JPY technical levels
In these moments the EUR/JPY is now operating at 132.09, still incurring a fall of -0.69% during European trading. Technically speaking, the EUR/JPY will look to face supports at 131.84, ahead of 131.37, and 130.99, notes the Danske Research Team.
Earlier today in the EMU, Industrial Production w.d.a. (YoY) was reported at -2.1% in July, missing expectations of -0.1%. Moreover, Industrial Production s.a. (MoM) yielded a figure of -1.5% in July, also underperforming projections that called for +0.1%.
EUR/JPY strategic bias
According to the Technical Analyst Team at ICN.com, “The EUR/JPY is trading with an evident downside bias since Thursday opening, and is below 132.70 now. That could cease the positive expectations we proposed in earlier report, there fore we'll assume neutrality for a short period to see if the price is able to confirm its next direction. Note that breaking 131.80 confirms the continuation of the intraday bearish trend toward areas of 130.85.”
EUR/JPY technical levels
In these moments the EUR/JPY is now operating at 132.09, still incurring a fall of -0.69% during European trading. Technically speaking, the EUR/JPY will look to face supports at 131.84, ahead of 131.37, and 130.99, notes the Danske Research Team.