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Forex: EUR/JPY struggling around the 121.00

EUR/JPY trades at the moment at 120.98, off NY session highs at 121.47, and yesterday's Asian session highs at 121.82, highest the cross has got after massive sell-off came following Monday's Italian election results when printed fresh 1-month lows at 118.74. EUR/JPY recovers from daily lows at 120.50, losing a small -0.16% from previous Asia-Pacific open yesterday, with Nikkei index closing Thursday up +2.71%.

As Valeria Bednarik notes, Chief Analyst at Fxstreet.com, EUR/JPY “found buyers around 100 SMA in the hourly chart that caps the upside now around 121.30,” she says, adding: “Yen crosses had been under pressure this week, and attempts to recover were halted by selling interest, pointing for a change in market interest when it comes to the Japanese currency. As for the short term, the hourly chart presents a bearish tone that points for another leg lower in the pair,” the analyst concludes.

Support levels are seen by Valeria at: 120.40, 119.90 and 119.20, while resistance levels at: 121.30, 121.80 and 122.60.

Forex: AUD/USD barely above 1.02 ahead of China PMI

AUD/USD is currently at 1.0213, back to where it was yesterday in Asia-Pacific previous to Capex data, down from daily highs at 1.0290 printed in early London session. The pair is losing -1.06% for the week so far, with Gold also back below the key $1600 mark at $1580 last, and Oil at fresh 2-month lows, while SP500 finally closed in the negative -0.14%. All the attention goes now for the sequester in the US if it will take place at the end, still few hours to go to midnight in NY, with China PMI at 01:00 GMT in between, and AIG manufacturing index in Australia already released, better than previous month.
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