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EUR/JPY losing altitude, near 134.80

FXStreet (Edinburgh) - After briefly surpassing the key barrier at 135.00 overnight, EUR/JPY has deflated to the current 134.80/75 band ahead of the opening bell in Euroland.

EUR/JPY lower post-German releases, ECB eyed

The initial upside in the cross is running out of vigour at the end of the Asian session on Thursday, following the poor results from the German trade balance, showing both exports and imports contracting more than estimated.

It will be a key session for the single currency, as the ECB will publish its Accounts from last meeting and the FOMC minutes lies ahead later in the NA session. Market participants will remain vigilant on the ECB in light of recent rumours regarding the likeliness of the central bank to modify its current QE programme (probably to be announced in December?), mainly in light of the lack of pick up in the region’s inflation figures.

EUR/JPY significant levels

The cross is now losing 0.01% at 134.85 with the next support at 134.44 (200d-sma) followed by 133.86 (up trend from early Sep.) and finally 133.08 (multi-month low Sep.4). On the upside, a surpass of 135.91 (55-d sma) would aim for 136.08 (down trend from mid-Aug tops) and then 137.44 (monthly peaks Sep.17).

EUR/USD: Bulls unperturbed by German data, around 1.1250

The bid tone on the EUR remains intact, keeping EUR/USD side-lined near the mid-point of the 1.12 barrier, as the bulls were little impacted by the dismal German trade figures.
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EUR/CHF turns lower after German data

The bid tone on the EUR weakened, pushing the EUR/CHF into the negative territory after Germany reported an unexpected drop in exports.
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