31 Jul 2015
EUR/JPY treads water around 135.70, awaits EZ CPI
FXStreet (Mumbai) - The EUR/JPY pair continues to trade around a flat-line below 136 handle in the early European morning, with the gains seen in the euro across the board offset by a stronger yen versus the greenback.
EUR/JPY capped in a tight range
Currently, the EUR/JPY pair trades modestly flat at 135.69, holding below 136 handle. The yen remains better bid versus the European currency as markets continue to cheer the latest upbeat Japanese CPI print. While the EUR/USD rebounded higher after the greenback stalled its upside momentum and took a back seat in today’s trade so far.
EUR/JPY remains pressured on the back of mounting Greece worries after IMF pulled out support from the Greek bailout programme while traders remain cautious ahead of key Eurozone data releases due later in the session ahead.
EUR/JPY Technical Levels
To the upside, the next resistance is located at 136 levels and above which it could extend gains 136.51 (July 30 High) levels. To the downside immediate support might be located at 135.49 (July 30 Low) below that at 135.24 (July 14 Low) levels.
EUR/JPY capped in a tight range
Currently, the EUR/JPY pair trades modestly flat at 135.69, holding below 136 handle. The yen remains better bid versus the European currency as markets continue to cheer the latest upbeat Japanese CPI print. While the EUR/USD rebounded higher after the greenback stalled its upside momentum and took a back seat in today’s trade so far.
EUR/JPY remains pressured on the back of mounting Greece worries after IMF pulled out support from the Greek bailout programme while traders remain cautious ahead of key Eurozone data releases due later in the session ahead.
EUR/JPY Technical Levels
To the upside, the next resistance is located at 136 levels and above which it could extend gains 136.51 (July 30 High) levels. To the downside immediate support might be located at 135.49 (July 30 Low) below that at 135.24 (July 14 Low) levels.