26 Sep 2013
Risk gauge EUR/JPY came close but has not touched 132.56 support yet
FXstreet.com (Barcelona) - EUR/JPY is still trading just above Fibonacci support at 132.56 after a very mild up day Wednesday.
EUR/JPY still signaling short-term “risk off” condition
The financial markets right now continues to sport a faint “risk-off” aura – as evidenced by the bid in the Yen and the weakness in some of the risk currencies like the Aussie Dollar. Interestingly, although it was not much to brag about, the EUR/JPY managed to post a small gain Wednesday after testing Tuesday’s lows earlier in the session.
The "action" Thursday is likely going to continue to be driven by the world’s appetite for risk assets as there is precious little in the way of market-moving data due from Europe and literally none from Japan.
Technical outlook for EUR/JPY
Technicians say EURJPY is likely to make it down to 132.56 before this correction has run its course. The obvious resistance for the cross comes in at last Thursday’s high at 134.94, but technicians say the next up move, in theory, should take the cross to 136.50.
EUR/JPY still signaling short-term “risk off” condition
The financial markets right now continues to sport a faint “risk-off” aura – as evidenced by the bid in the Yen and the weakness in some of the risk currencies like the Aussie Dollar. Interestingly, although it was not much to brag about, the EUR/JPY managed to post a small gain Wednesday after testing Tuesday’s lows earlier in the session.
The "action" Thursday is likely going to continue to be driven by the world’s appetite for risk assets as there is precious little in the way of market-moving data due from Europe and literally none from Japan.
Technical outlook for EUR/JPY
Technicians say EURJPY is likely to make it down to 132.56 before this correction has run its course. The obvious resistance for the cross comes in at last Thursday’s high at 134.94, but technicians say the next up move, in theory, should take the cross to 136.50.