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12 Sep 2013
EUR/JPY sinks to 132.34 session lows
FXstreet.com (Chicago) - EUR/JPY succumbed to bearish pressure to accumulate 0.46% daily losses so far after the release of weaker than expected Australian job data and ahead of a plethora of data due later today in Europe.
Price action reveals the pair found grounds around 132.30 zone (August 23rd highs and 23.6% Fibonacci level from August 30th lows) after a steep fall from 133.00 zone. Offered at 132.40, the pair oscillates between supports aligned at 132.20 (September 5th highs), 131.87 (August 2nd highs) ahead of 131.45 (September 3rd highs) and resistances at 132.41 (August 23rd highs), 132.75 (September 10th lows) ahead of 133.30 (September 10th highs).
The price movement may have been triggered by the release of underperforming Australian job market data. According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis ahead of a plethora of Euro-zone data due later today including the ECB monthly report and ECB’s President Draghi speech.
Price action reveals the pair found grounds around 132.30 zone (August 23rd highs and 23.6% Fibonacci level from August 30th lows) after a steep fall from 133.00 zone. Offered at 132.40, the pair oscillates between supports aligned at 132.20 (September 5th highs), 131.87 (August 2nd highs) ahead of 131.45 (September 3rd highs) and resistances at 132.41 (August 23rd highs), 132.75 (September 10th lows) ahead of 133.30 (September 10th highs).
The price movement may have been triggered by the release of underperforming Australian job market data. According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis ahead of a plethora of Euro-zone data due later today including the ECB monthly report and ECB’s President Draghi speech.