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EUR/JPY fails to hold above 147.00

FXStreet (Córdoba) - EUR/JPY was falling modestly on Tuesday, before the release of US economic data, after being unable to hold above 147.00.

The pair dropped during the Asian session from 147.37 (daily high) to 146.25 and then rebounded, but the recovery was capped below 147.00. At the moment of writing it was trading at 146.65, down 0.30% for the day as traders await the new estimate of US Q3 GDP.

Yen gained momentum

A stronger yen across the board pushed EUR/JPY to the downside. While USD/JPY dropped from 118.50 to 117.70, EUR/USD remained steady trading in a range between 1.2415 and 1.2440.

The Japanese currency was among the best performers on Tuesday despite risk appetite. Main stock indexes in Europe were rising 1% on average while Wall Street futures pointed to a positive opening.

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