23 Aug 2013
EUR/JPY over 132.00 level ahead of Jackson’s Hole Symposium
FXstreet.com (Athens) - The EUR/JPY is consistently upwards post solid European data.
Will Jackson’s Hole panel drive EUR/JPY higher?
A weaker JPY overnight as the market absorbs the BOJ’s comments and its likely reaction to economic weakness. Market participants from varying sectors are reassessing their risk appetite and positions in light of this development. What’s more, the confidence data this afternoon notes a huge event risk for the euro, but data significantly stronger than expected could give the single currency a modest lift into the weekend.
Technical perspective on EUR/JPY
At the time of writing, the pair is trading at 132.17, up 0.23%. The FXstreet.com Trend Index shows the pair to be slightly bullish. Daily pivot point support can be found at 131.75, 131.42, 130.87 and resistance at 132.77, 133.10 and 133.44 respectively
Will Jackson’s Hole panel drive EUR/JPY higher?
A weaker JPY overnight as the market absorbs the BOJ’s comments and its likely reaction to economic weakness. Market participants from varying sectors are reassessing their risk appetite and positions in light of this development. What’s more, the confidence data this afternoon notes a huge event risk for the euro, but data significantly stronger than expected could give the single currency a modest lift into the weekend.
Technical perspective on EUR/JPY
At the time of writing, the pair is trading at 132.17, up 0.23%. The FXstreet.com Trend Index shows the pair to be slightly bullish. Daily pivot point support can be found at 131.75, 131.42, 130.87 and resistance at 132.77, 133.10 and 133.44 respectively