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2 Oct 2013
EUR/JPY, firm above 132.20
FXstreet.com (Chicago) - EUR/JPY pulled of a recovery after plunging on yen’s strengthening at the beginning of the Asian session.
Still subdued?
Earlier in Europe, the CAC40 printed losses down 0.92% similarly to the DAX down 0.69% on uncertainty triggered by the US government shutdown. The ECB interest rate decision remained at 0.5%. Mario Draghi, ECB President, said “Underlying price pressures in the euro area are expected to remain subdued over the medium term. In keeping with this picture, monetary and, in particular, credit dynamics remain subdued. Inflation expectations for the euro area continue to be firmly anchored in line with our aim of maintaining inflation rates below, but close to, 2% over the medium term. At the same time, real GDP growth in the second quarter was positive, after six quarters of negative output growth, and confidence indicators up to September confirm the expected gradual improvement in economic activity from low levels.” Later today, foreign bond investments and foreign investments in Japanese stocks will be released.
EUR/JPY Technical Levels
Technically speaking, the pair is offered at 132.29 and oscillates between supports aligned at 132.22 (September 16th highs), 131.83 (September 18th highs), 131.43 (September 2nd highs) and resistances set at 132.60 (September 28th lows), 133.00 (September 23rd lows), 133.30 (September 10th highs).
Still subdued?
Earlier in Europe, the CAC40 printed losses down 0.92% similarly to the DAX down 0.69% on uncertainty triggered by the US government shutdown. The ECB interest rate decision remained at 0.5%. Mario Draghi, ECB President, said “Underlying price pressures in the euro area are expected to remain subdued over the medium term. In keeping with this picture, monetary and, in particular, credit dynamics remain subdued. Inflation expectations for the euro area continue to be firmly anchored in line with our aim of maintaining inflation rates below, but close to, 2% over the medium term. At the same time, real GDP growth in the second quarter was positive, after six quarters of negative output growth, and confidence indicators up to September confirm the expected gradual improvement in economic activity from low levels.” Later today, foreign bond investments and foreign investments in Japanese stocks will be released.
EUR/JPY Technical Levels
Technically speaking, the pair is offered at 132.29 and oscillates between supports aligned at 132.22 (September 16th highs), 131.83 (September 18th highs), 131.43 (September 2nd highs) and resistances set at 132.60 (September 28th lows), 133.00 (September 23rd lows), 133.30 (September 10th highs).