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2 Mar 2015
EUR/JPY rises above 134.00
FXStreet (Mumbai) - The EUR/JPY pair rose above 134.00 levels, although gains are being capped at the 5-DMA located at 134.07 levels.
EUR/JPY: can it sustain above 134.00?
The pair has inched higher from the low of 133.71 ahead critical economic data across the Eurozone. PMI numbers, coupled with the Eurozone CPI print for February would decide the fate of the EUR/JPY pair. A positive surprise on the inflation front could see the pair advance further above 134.00 levels. Meanwhile, a sharp fall in the CPI figure could push the pair back below 134.00 levels. The PMI numbers too would create some volatility, although markets are likely to remain focused on the CPI figure.
EUR/JPY Technical Levels
The immediate resistance is seen at 134.76, above which gains could be extended to 135.77 (50-DMA). On the flip side, support is seen at 133.43 and 132.53 levels.
EUR/JPY: can it sustain above 134.00?
The pair has inched higher from the low of 133.71 ahead critical economic data across the Eurozone. PMI numbers, coupled with the Eurozone CPI print for February would decide the fate of the EUR/JPY pair. A positive surprise on the inflation front could see the pair advance further above 134.00 levels. Meanwhile, a sharp fall in the CPI figure could push the pair back below 134.00 levels. The PMI numbers too would create some volatility, although markets are likely to remain focused on the CPI figure.
EUR/JPY Technical Levels
The immediate resistance is seen at 134.76, above which gains could be extended to 135.77 (50-DMA). On the flip side, support is seen at 133.43 and 132.53 levels.