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3 Jun 2015
EUR/JPY flattish around 138.40, EMU data eyed
FXStreet (Mumbai) - The shared currency shaved-off losses and trades muted versus the Japanese yen in the European session, keeping EUR/JPY in the same range above 138 levels, mainly driven by somewhat higher euro following a set of upbeat final PMIs from the Euro zone, while markets turn their attention towards EMU retail sales and employment data due to be released shortly.
ECB Meeting in focus
Currently, the EUR/JPY pair trades muted at 138.41, quickly retreating 138.54 levels reached immediately post the data release. EUR/JPY erased gains and peaks slightly into green after the euro received fresh impetus from the services PMI reports from the Euro zone.
Meanwhile, markets now turn their focus towards the upcoming set of EZ macro releases due later in the session. While the major market mover will come when the European Central Bank meets in Frankfurt, followed by a press conference from bank President Mario Draghi.
EUR/JPY Technical Levels
To the upside, the next resistance is located at 138.63 (Today’s High) levels and above which it could extend gains 139 levels. To the downside immediate support might be located at 138 below that at 137.60 levels.
ECB Meeting in focus
Currently, the EUR/JPY pair trades muted at 138.41, quickly retreating 138.54 levels reached immediately post the data release. EUR/JPY erased gains and peaks slightly into green after the euro received fresh impetus from the services PMI reports from the Euro zone.
Meanwhile, markets now turn their focus towards the upcoming set of EZ macro releases due later in the session. While the major market mover will come when the European Central Bank meets in Frankfurt, followed by a press conference from bank President Mario Draghi.
EUR/JPY Technical Levels
To the upside, the next resistance is located at 138.63 (Today’s High) levels and above which it could extend gains 139 levels. To the downside immediate support might be located at 138 below that at 137.60 levels.