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21 Apr 2015
EUR/JPY languishes near session lows
FXStreet (Mumbai) - The EUR/JPY fell back to near session low of 127.42 after the Zew survey data showed the German economic sentiment index dropped in April.
Yen gains strength on weak Zew data
The Japanese Yen is being pushed higher after the German Zew economic sentiment index for April came-in at 53.3, missing the estimate of 55.5, and down from 54.8 in March. Moreover, the EUR failed to strengthen on an uptick in the current situation index.
In the meantime, the Japanese PM adviser Hamada’s calls for more QE in order to achieve core inflation target was also ignored by the markets.
EUR/JPY Technical Levels
The immediate support is located at 127.00, under which losses could be extended to 126.50 levels. On the flip side, resistance is seen at 127.67 (10-DMA) and 128.13 (5-DMA).
Yen gains strength on weak Zew data
The Japanese Yen is being pushed higher after the German Zew economic sentiment index for April came-in at 53.3, missing the estimate of 55.5, and down from 54.8 in March. Moreover, the EUR failed to strengthen on an uptick in the current situation index.
In the meantime, the Japanese PM adviser Hamada’s calls for more QE in order to achieve core inflation target was also ignored by the markets.
EUR/JPY Technical Levels
The immediate support is located at 127.00, under which losses could be extended to 126.50 levels. On the flip side, resistance is seen at 127.67 (10-DMA) and 128.13 (5-DMA).