15 Oct 2013
EUR/JPY rallied hard into the close after initial DC–induced nervousness; RISK ON!!
FXstreet.com (Barcelona) - The EUR/JPY continues to reflect the global appetite for risk – and the appetite is apparently quite healthy.
EUR/JPY to react to data and global risk appetite
EUR/JPY is trading very bullishly – showing global investors’ belief that there will be a resolution to the ongoing dispute in Washington, D.C. Traders will have to continue to monitor thenews flow out of D.C.
Additionally, though, traders will have to digest the following data points – Japanese Industrial Production, German Import Prices and finally German and EuroZone Economic Sentiment.
Technical outlook for EUR/JPY
Technicians say that resistance for the EUR/JPY cross comes in at the Elliott Wave projection of 134.00. Support meanwhile comes in at 133.59 (Friday’s peak) and is followed by 133.05 (the Monday session’s low).
EUR/JPY to react to data and global risk appetite
EUR/JPY is trading very bullishly – showing global investors’ belief that there will be a resolution to the ongoing dispute in Washington, D.C. Traders will have to continue to monitor thenews flow out of D.C.
Additionally, though, traders will have to digest the following data points – Japanese Industrial Production, German Import Prices and finally German and EuroZone Economic Sentiment.
Technical outlook for EUR/JPY
Technicians say that resistance for the EUR/JPY cross comes in at the Elliott Wave projection of 134.00. Support meanwhile comes in at 133.59 (Friday’s peak) and is followed by 133.05 (the Monday session’s low).