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EUR/JPY rejected at 50-DMA

FXStreet (Mumbai) - The relief rally in the EUR/JPY pair ran into offers at its 50-DMA located at 136.10 levels.

Back below hourly 200-MA

The pair is back below its hourly 200-MA located at 135.96 levels. The bid tone on the EUR had improved earlier today after the major European equities opened lower. Germany’s DAX index extended losses to trade 1% lower, before trimming part of its losses. However, the Euro Stoxx 50 now trades almost 0.55 higher. Consequently, the EUR is paring gains across the board.

With an empty economic calendar in Europe, the EUR/JPY cross could continue to move in line with the overall market sentiment.

EUR/JPY Technical Levels

At 135.84, the immediate support is seen at 135.50 (200-DMA), under which the losses could be extended to 135.00 levels. On the other side, resistance is seen at 136.10 (50-DMA) and 136.42 (100-DMA).

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