16 Jun 2014
EUR/JPY stays near 4-month lows after CPI
FXStreet (Córdoba) - The EUR/JPY remained little changed near multi-month lows after Eurozone inflation data came in line with expectations.
Eurozone consumer price index dropped 0.1% in May and recorded a 0.5% rise YoY, its lowest level in 4 1/2 years, matching market's consensus. The EUR/JPY barely reacted to data and it is currently trading at the 137.85 area, down 0.17%, having scored a 4-month low of 137.69 earlier on the day.
EUR/JPY technical levels
In terms of technical levels, the EUR/JPY could find next supports at 137.69 (Jun 16 low), 137.27 (50-week SMA) and 137.00 (psychological level). On the flip side, resistances could be found at 138.20 (Jun 16 high/broken trendline), 138.54 (Jun 13 high), 138.66 (200-day SMA).
Eurozone consumer price index dropped 0.1% in May and recorded a 0.5% rise YoY, its lowest level in 4 1/2 years, matching market's consensus. The EUR/JPY barely reacted to data and it is currently trading at the 137.85 area, down 0.17%, having scored a 4-month low of 137.69 earlier on the day.
EUR/JPY technical levels
In terms of technical levels, the EUR/JPY could find next supports at 137.69 (Jun 16 low), 137.27 (50-week SMA) and 137.00 (psychological level). On the flip side, resistances could be found at 138.20 (Jun 16 high/broken trendline), 138.54 (Jun 13 high), 138.66 (200-day SMA).