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Forex: EUR/JPY around 120.60

FXstreet.com (Barcelona) - A spike lower was seen in early European morning, to as low as 120.31, but the EUR/JPY was able to retrace losses to 120.60, so far. The market is trading in a very tight range today, as many markets closed for holiday. The economic calendar has updated many indicators in European countries.

Italy Producer Price Index in February came in lower than expected: the monthly figure at 0.1% (consensus of 0.5%) and the annualized figure falling from 0.7% to 0.3% (consensus of 0.7%). The preliminary release of the Italian Consumer Price Index in March was below consensus, at 1.7% YoY (consensus of 1.8%) and 0.3% MoM (consensus of 0.4%). EU normalized, the CPI rose 2.3% (consensus of 2.2%) on the month. The Greek PPI rose 0.8% in February and Retail Sales fell further, from -8.3% to -16.4% in January.

Mataf.net analysts point to resistance at 120.90, 121.85 and 122.75. On the downside, supports might be found at 120.30, 119.75 and 119.25.

Forex: EUR/USD unchanged around 1.2815/20

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