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6 Feb 2015
EUR/JPY slides few pips after German data
FXStreet (Mumbai) - The EUR/JPY pair fell to the session low of 134.31 after the data in Germany showed the industrial production contracted in December.
Muted reaction in EUR/JPY
The pair traded weak around 134.50 ahead of the weak German data release, post which pair fell another 19 pips to hit a low of 134.31. At the time of writing, the pair appeared to take support at the hourly 100-average located at 134.31 levels.
However, the pair may extend losses if the European equity markets show signs of risk aversion. The major index futures in Europe are indicating a weak opening today. The Dax futures and the Cac futures are down 0.07% each. Meanwhile, the Ftse futures are down 0.12%.
EUR/JPY Technical Levels
The immediate support is located at 133.97 (5-DMA), under which losses could be extended to 133.55 (10-DMA) levels. On the flip side, resistance is seen at 134.70 and 135.34 levels.
Muted reaction in EUR/JPY
The pair traded weak around 134.50 ahead of the weak German data release, post which pair fell another 19 pips to hit a low of 134.31. At the time of writing, the pair appeared to take support at the hourly 100-average located at 134.31 levels.
However, the pair may extend losses if the European equity markets show signs of risk aversion. The major index futures in Europe are indicating a weak opening today. The Dax futures and the Cac futures are down 0.07% each. Meanwhile, the Ftse futures are down 0.12%.
EUR/JPY Technical Levels
The immediate support is located at 133.97 (5-DMA), under which losses could be extended to 133.55 (10-DMA) levels. On the flip side, resistance is seen at 134.70 and 135.34 levels.