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20 Aug 2013
EUR/JPY hangs on to 130.00 zone
FXstreet.com (Chicago) - EUR/JPY has retraced from 130.40 zone after climbing from 129.00 on a series of 3 wave ascend. The bears maintain selling pressure ahead of the All Industry Activity Index for the month of July.
Later in the day, the euro zone will publish its construction output results for June ahead of market manufacturing data released later in the week. World economies are modeling the uncertainty perceived in the US amid speculations on Fed’s stimulus and slower-than-expected growth of larger economies such as China and the European Union.
At 130.21, the pair oscillates between supports at 130.12 (July 25th lows), 129.90 (July 11th highs) ahead of 129.59 (August 15th lows) and resistances at 130.42 (August 16th highs), 130.74 (August 14th highs) followed by 131.11 (July 2nd highs). The FXstreet.com trend index reports the pair as slightly bearish on one-hour timeframe analysis with a neutral EMA20 and CCI volume indicator pointing down.
Later in the day, the euro zone will publish its construction output results for June ahead of market manufacturing data released later in the week. World economies are modeling the uncertainty perceived in the US amid speculations on Fed’s stimulus and slower-than-expected growth of larger economies such as China and the European Union.
At 130.21, the pair oscillates between supports at 130.12 (July 25th lows), 129.90 (July 11th highs) ahead of 129.59 (August 15th lows) and resistances at 130.42 (August 16th highs), 130.74 (August 14th highs) followed by 131.11 (July 2nd highs). The FXstreet.com trend index reports the pair as slightly bearish on one-hour timeframe analysis with a neutral EMA20 and CCI volume indicator pointing down.