2 Feb 2015
EUR/JPY eases slightly after EU PMI data
FXStreet (Mumbai) - The EUR/JPY pair eased slightly after the gauge of manufacturing indicated a slowdown in activity in Germany, while the aggregate Eurozone activity ticked up in January.
Trades below hourly 100-SMA
The EUR/JPY fell below the hourly 100-SMA located at 133.28 after the German PMI manufacturing fell from December’s 51.2 to 50.9 in January. Meanwhile, the Eurozone PMI manufacturing came in line with the earlier flash estimate of 51.0 and slightly above December’s print of 50.6.
The pair fell from 133.50 to the current level of 133.19 due to a slight slowdown in the German manufacturing activity. However, the activity remained in the expansive territory, while the Eurozone activity ticked up. Thus, the weakness in the pair was somewhat capped.
EUR/JPY Technical Levels
At the moment the pair is trading at 133.22; up 0.42% for the day. The immediate resistance is seen at 133.28 (hourly 200-SMA), above which gains could be extended to 133.52 levels. On the flip side, support is seen at 133.11 and 132.91 (hourly 50-SMA) levels.
Trades below hourly 100-SMA
The EUR/JPY fell below the hourly 100-SMA located at 133.28 after the German PMI manufacturing fell from December’s 51.2 to 50.9 in January. Meanwhile, the Eurozone PMI manufacturing came in line with the earlier flash estimate of 51.0 and slightly above December’s print of 50.6.
The pair fell from 133.50 to the current level of 133.19 due to a slight slowdown in the German manufacturing activity. However, the activity remained in the expansive territory, while the Eurozone activity ticked up. Thus, the weakness in the pair was somewhat capped.
EUR/JPY Technical Levels
At the moment the pair is trading at 133.22; up 0.42% for the day. The immediate resistance is seen at 133.28 (hourly 200-SMA), above which gains could be extended to 133.52 levels. On the flip side, support is seen at 133.11 and 132.91 (hourly 50-SMA) levels.