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18 Jun 2013
EUR/JPY eases off session highs
FXstreet.com (New York) - The EUR/JPY technical cross drifted nearly 30 pips off session highs Tuesday (127.57) in recent miments, on the heels of some key economic data.
EUR/JPY bullishness hinges on stability above 125.00
According to the Technical Analyst Team at ICN.com, “The EUR/JPY pair rebounded slightly yesterday after testing the key horizontal support at 125.00 level. The bullish correctional bounce could extend further possibly towards a retest of the broken ascending support near 128.00. Ultimately, the bullish scenario requires the pivotal level at 125.00 to remain intact.”
In the EMU, the ZEW Survey – Economic Sentiment (June) came in at 30.6, compared with a figure of 27.6. Meanwhile in Germany, the ZEW Survey – Economic Sentiment (June) was reported at 38.5, beating expectations of 38.1. Finally, the ZEW – Current Situation (June) yielded a figure of 8.6, missing estimates of 9.5.
EUR/JPY breaches first resistance
Amidst the recent pullback Tuesday, the EUR/JPY is now settling at 127.31 in these moments, securing a robust gain of +0.79% above it’s opening. After surging above calculated resistance at 127.05, the Mataf.net analyst team points to the next levels of resistive correction at 127.42, onto 127.93.
EUR/JPY bullishness hinges on stability above 125.00
According to the Technical Analyst Team at ICN.com, “The EUR/JPY pair rebounded slightly yesterday after testing the key horizontal support at 125.00 level. The bullish correctional bounce could extend further possibly towards a retest of the broken ascending support near 128.00. Ultimately, the bullish scenario requires the pivotal level at 125.00 to remain intact.”
In the EMU, the ZEW Survey – Economic Sentiment (June) came in at 30.6, compared with a figure of 27.6. Meanwhile in Germany, the ZEW Survey – Economic Sentiment (June) was reported at 38.5, beating expectations of 38.1. Finally, the ZEW – Current Situation (June) yielded a figure of 8.6, missing estimates of 9.5.
EUR/JPY breaches first resistance
Amidst the recent pullback Tuesday, the EUR/JPY is now settling at 127.31 in these moments, securing a robust gain of +0.79% above it’s opening. After surging above calculated resistance at 127.05, the Mataf.net analyst team points to the next levels of resistive correction at 127.42, onto 127.93.