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EUR/JPY struggles to stay positive

FXStreet (Mumbai) - The EUR/JPY pair is struggling hard to stay positive heading into the US session, after having faced rejection at its 50-DMA earlier today.

Trades around 135.60

The cross now trades around 135.60 after hawkish comments from the Fed’s Bullard weighed over the common currency more than it did on the Japanese Yen. Meanwhile, the turn around in the European stocks also hurt the common currency, but also restricted the gains in the safe haven Yen.

The focus now shifts to the US housing data and the sentiment on the Wall Street. The S&P futures currently indicate the index is likely to open 12 points higher.

EUR/JPY Technical Levels

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

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