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EUR/JPY unchanged, challenging 134.00

FXStreet (Edinburgh) - EUR/JPY is navigating a narrow range during the second half of the week, currently deflating to the 134.00/133.90 band.

EUR/JPY lower on EUR-selling

The bearish tone around the single currency is helping the cross to return to the 134.00 neighbourhood ahead of the opening bell in Euroland, down from overnight tops around 134.30.

The sentiment for the risk appetite continues to build up today in response to the better-than-expected PMI figures in the Chinese economy, keeping the demand for EUR subdued ahead of the final September manufacturing PMIs in Europe.

Back to Japan, the Unemployment Rate and Jobs/Applicants Ratio are due tomorrow, with consensus expecting the jobless rate to stay unchanged at 3.3% during August.

EUR/JPY significant levels

At the moment the cross is down 0.01% at 133.96 facing the next support at 133.78 (low Oct.1) followed by 133.57 (low Sep.30) and then 133.16 (low Sep.23). On the other hand, a breakout of 134.26 (high Oct.1) would open the door to 135.11 (high Sep.29) and finally 136.14 (high Sep.21).

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