16 Feb 2015
EUR/JPY muted post EMU data
FXStreet (Mumbai) - EUR/JPY little changed during the mid-European session, after the European Monetary Union’s (EMU) trade surplus widened in December last year, outpacing estimates.
EUR/JPY capped by 5-DMA
Currently, the EUR/JPY pair traded flat at 135.26 levels, upside restricted by the 5-DMA. The EUR/JPY remained unmoved, with no reaction to the upbeat EMU trade balance data which showed that the 19-nation bloc’s trade surplus expanded to EUR24.3 billion surplus in December 2014, compared with EUR13.6 bn in December 2013, beating consensus of a EUR 20.5 bn rise.
The pair remains stuck below 136 levels as both the EUR and JPY is gaining equally against the USD on a broad based greenback recovery. Meanwhile, traders now focus on Greece developments later in the day for further momentum on the cross.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 135.63 and above which it could extend gains to at 136 levels. To the downside immediate support might be located at 135 levels below that at 134.77 levels.
EUR/JPY capped by 5-DMA
Currently, the EUR/JPY pair traded flat at 135.26 levels, upside restricted by the 5-DMA. The EUR/JPY remained unmoved, with no reaction to the upbeat EMU trade balance data which showed that the 19-nation bloc’s trade surplus expanded to EUR24.3 billion surplus in December 2014, compared with EUR13.6 bn in December 2013, beating consensus of a EUR 20.5 bn rise.
The pair remains stuck below 136 levels as both the EUR and JPY is gaining equally against the USD on a broad based greenback recovery. Meanwhile, traders now focus on Greece developments later in the day for further momentum on the cross.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 135.63 and above which it could extend gains to at 136 levels. To the downside immediate support might be located at 135 levels below that at 134.77 levels.