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17 Jun 2013
EUR/JPY still entrenched in positive territory
FXstreet.com (New York) - The EUR/JPY foreign exchange rate has continued its upward linear path, despite minor derivations off this course during European trading Monday.
EUR/JPY static after EMU data
In the EMU, Labor Costs (Q1) came in at +1.6%, compared with a figure of +1.3% previously. Moreover, the Trade Balance n.s.a. yielded a figure of €14.9B in April, missing estimates of €18.5B. Finally, the Trade Balance s.a. gave a result of €16.1B, vs. a projection of €21.1B.
At the time of writing, the EUR/JPY technical pair is entrenched in positive territory at 126.54 or a robust +0.66% thus far. Given the recent levels of strength, Mataf.net analysts calculate further resistive measures for the pair at 127.25, onto 128.31 and 129.35. On the decline, a break below the 125.15 handle will initiate supports at 124.11 and 123.03.
EUR/JPY upside move to retest 50-day SMA?
“The EUR/JPY maintained the bearish bias on Friday after breaching the main ascending trend line however, the price found strong support at 124.90 (previous key low and major support level). We expect the price to move higher this week, possibly for a retest of the broken trend line and the 50-day SMA.” suggests the Technical Analyst Team at ICN.com.
EUR/JPY static after EMU data
In the EMU, Labor Costs (Q1) came in at +1.6%, compared with a figure of +1.3% previously. Moreover, the Trade Balance n.s.a. yielded a figure of €14.9B in April, missing estimates of €18.5B. Finally, the Trade Balance s.a. gave a result of €16.1B, vs. a projection of €21.1B.
At the time of writing, the EUR/JPY technical pair is entrenched in positive territory at 126.54 or a robust +0.66% thus far. Given the recent levels of strength, Mataf.net analysts calculate further resistive measures for the pair at 127.25, onto 128.31 and 129.35. On the decline, a break below the 125.15 handle will initiate supports at 124.11 and 123.03.
EUR/JPY upside move to retest 50-day SMA?
“The EUR/JPY maintained the bearish bias on Friday after breaching the main ascending trend line however, the price found strong support at 124.90 (previous key low and major support level). We expect the price to move higher this week, possibly for a retest of the broken trend line and the 50-day SMA.” suggests the Technical Analyst Team at ICN.com.