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EUR/JPY in lows near 137.30

FXStreet (Edinburgh) - EUR/JPY is navigating session lows around 137.30 on Thursday, waiting for data releases in the euro area.

EUR/JPY retreats from 138.00

The cross is losing ground for the second consecutive session so far, coming down from 2-week peaks in the proximity of 138.00 the figure posted just yesterday, although closing the day in red following the Fed announcements. Ahead in the session German unemployment figures are due followed by different gauges of confidence and sentiment in the euro area. “The market is regarded as being under pressure while below the 138.45/52 pivot and a negative bias is entrenched while capped here”, noted Karen Jones, Head of FICC Technical Analysis at Commerzbank.

EUR/JPY levels to watch

As of writing the cross is losing 0.15% at 137.33 with the next support at 136.93 (Kijun Sen) ahead of 136.89 (low Oct.28) and then 136.63 (Tenkan Sen). On the flip side, a breakout of 137.73 (high Oct.30) would expose 138.05 (high Oct.29) and finally 138.47 (cloud base).

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