TenkoFX - Analytics


    425.75 7.25/10
    68% of positive reviews

    EUR/JPY back below 114.00, session lows

    Selling bias around the single currency plus increased demand for the safe haven Yen has relegated EUR/JPY to return to sub-114.00 levels today.EUR/JPY lower as risk fadesThe cross is eroding part of the weekly gains to the 114.80 area posted on Thursday following some sort of pick in the risk aversion sentiment, especially after yesterday’s comments by BoE’s M.Carney, who hinted at the likeliness of looser monetary conditions in the UK in the near term.On the Japanese data front, inflation figures remain quite far from the 2% target, while Jobs/Applicants ratio and key Tanakan Large Manufacturers index have surprised to the upside. Back to the Old Continent, final PMI’s for the month of June are due later todayEUR/JPY relevant levelsAt the moment the cross is down 0.57% at 113.91 facing the next support at 109.47 (low Jun.24) ahead of 105.93 (monthly low December 2012) and then 100.28 (monthly low November 2012). On the flip side, a break above 114.80 (high Jun.30) would expose 115.46 (low Jun.16) and finally 117.85 (20-day sma).

    To leave a comment you must or Join us

    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree