OctaFX | OctaFX Forex Broker
Open trading account

EUR/JPY challenges highs near 132.80

FXStreet (Edinburgh) - The better tone of the European currency is bolstering the upside of EUR/JPY to the area of session highs around 132.80 on Monday.

EUR/JPY bounces off 131.50

The cross has recovered over a big-figure from post-Payrolls troughs near 131.50, helped by the lackluster results from the external sector in China, where the trade surplus has missed initial forecasts for the month of October, as well as Imports and Exports.

In the data space, market participants have ignored German trade balance releases while the Sentix index is due later. On the Japanese side, Current Account figures are expected tomorrow ahead of the Eco Watchers Survey.

EUR/JPY significant levels

The cross is up 0.35% at 132.83 with the next resistance at 133.38 (61.8% Fibo of 136.44-131.49) followed by 134.45 (200-day ma) and then 134.65 (55-day sma). On the downside, a breach of 131.90 (6-month uptrend) would expose 131.49 (low Nov.6) and then 130.12 (low Jan.26).

NZD: December is going to be a close call for RBNZ – Westpac

Imre Speizer, Senior Markets Strategist at Westpac, suggests that markets have only priced in a 32% chance the RBNZ will ease by 25bp in December, with 100% priced not until March 2016 but we assess the chance at around 60%.
Read more Previous

Eurozone: Market eyes on Sentix investor confidence data – Danske Bank

Research Team at Danske Bank, suggests that in the euro area, focus will be on the October Sentix investor confidence.
Read more Next
Start livechat