OctaFX | OctaFX Forex Broker
Open trading account

EUR/JPY well supported around 134.00

FXStreet (Edinburgh) - EUR/JPY is following the rest of the broader markets at the end of the week, finding decent support around the 134.00 area so far.

EUR/JPY sidelined ahead of Payrolls

The pair is extending its consolidative pattern in the low-134.00s after recovering from weekly lows in the 133.50 area on Thursday, all against the backdrop of a cautious tone amongst traders prior to US Payrolls (203K exp.).

There are no relevant releases in Euroland, whereas the jobless rate in Japan has ticked higher to 3.4% during August and Household Spending rose 2.9% on a year to August.

EUR/JPY significant levels

At the moment the cross is down 0.08% at 134.13 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 134.44 (high Oct.2) would open the door to 135.11 (high Sep.29) and finally 136.14 (high Sep.21).

USD/JPY: Trades above 120.00, eyes US payrolls report

The USD/JPY strengthened in Europe on account of risk-on in equities, but awaits the US non-farm payrolls report to see a breakout from the symmetrical triangle formation on the daily chart.
Read more Previous

GBP/USD points to consolidation near-term – Commerzbank

In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair will remain in a consolidative pattern in the short-term...
Read more Next
Start livechat