24 Mar 2015
EUR/JPY back above 131.00
FXStreet (Mumbai) - The shared currency inched higher ahead of the German and Eurozone flash PMI reports, pushing thee EUR/JPY pair back above 131.00 levels.
Yen supported by weak China data
The gains in the EUR/JPY pair have been capped to some extent due to a weak China data released earlier today. The Yen strengthened against most currencies after the gauge of China’s service sector activity dipped to 11-month low.
However, the pair could extend gains if the German and the Eurozone PMI indices manage to surpass market expectations.
EUR/JPY Technical Levels
The pair currently trades at 131.01. The immediate resistance is seen at 131.66, above which gains could be extended to 132.75 (50-DMA). On the flip side, a break below 130.47 could push the pair lower to 130.00 levels.
Yen supported by weak China data
The gains in the EUR/JPY pair have been capped to some extent due to a weak China data released earlier today. The Yen strengthened against most currencies after the gauge of China’s service sector activity dipped to 11-month low.
However, the pair could extend gains if the German and the Eurozone PMI indices manage to surpass market expectations.
EUR/JPY Technical Levels
The pair currently trades at 131.01. The immediate resistance is seen at 131.66, above which gains could be extended to 132.75 (50-DMA). On the flip side, a break below 130.47 could push the pair lower to 130.00 levels.