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EUR/JPY falls after weak ZEW

FXStreet (Córdoba) - The EUR/JPY came under pressure and dropped to fresh daily lows after ZEW surveys for Germany and the Eurozone as a whole came in lower than expected.

German August ZEW economic sentiment index tumbled to 8.6 vs 18.1 forecast while current conditions slid to 44.3 vs 55.5 forecast and 61.8 previous. The euro fell across the board after data, which declines was blamed on geopolitical tensions.

The EUR/JPY has fallen to a 2-day low of 136.43 so far and giving no signs to overcome the selling pressure for now.

EUR/JPY supports and resistances

As for technical levels, immediate supports are now seen at 136.14 (Aug 6 low), 136.00 (psychological level) and 135.72 (Aug 8 low). On the other hand, resistances could be found at 136.88 (Aug 12 high), 137.00/01 (psychological level/Aug 11 high) and 137.23 (Aug 6 high).

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