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30 Jul 2015
EUR/JPY turns positive at 136.20
FXStreet (Mumbai) - The European currency wiped-out losses and peeked into the positive territory versus the yen ahead of Europe open, as the euro pared losses versus the US dollar while rising USD/JPY also pushed the cross higher.
EUR/JPY bounces-off 135.98
Currently, the EUR/JPY pair trades modestly flat near fresh session highs of 136.27, recovering from a dip below 136 handle. The cross in EUR/JPY reversed losses and edged higher tracking gains in the USD/JPY pair which trades firmer near 124.10 levels.
While a recovery in EUR/USD, erasing early losses also provide helping hand to the EUR/JPY cross.
EUR/JPY came under renewed selling pressure in early Asia as the USD bulls remained boosted by the FOMC statement which talked up on the US economy, making no changes to the monetary policy settings.
Markets now remain cautious still digesting the latest FOMC statement ahead of the crucial US GDP and trade balance figures due later in the New York session.
Trade the US GDP data with Bednarik, Pinkert and Carrillo - Live Coverage
EUR/JPY Technical Levels
To the upside, the next resistance is located at 136.93 (July 29 High) levels and above which it could extend gains 137.17 (July 27 High) levels. To the downside immediate support might be located at 135.69 (July 27 Low) below that at 135.48 (July 24 Low) levels.
EUR/JPY bounces-off 135.98
Currently, the EUR/JPY pair trades modestly flat near fresh session highs of 136.27, recovering from a dip below 136 handle. The cross in EUR/JPY reversed losses and edged higher tracking gains in the USD/JPY pair which trades firmer near 124.10 levels.
While a recovery in EUR/USD, erasing early losses also provide helping hand to the EUR/JPY cross.
EUR/JPY came under renewed selling pressure in early Asia as the USD bulls remained boosted by the FOMC statement which talked up on the US economy, making no changes to the monetary policy settings.
Markets now remain cautious still digesting the latest FOMC statement ahead of the crucial US GDP and trade balance figures due later in the New York session.
Trade the US GDP data with Bednarik, Pinkert and Carrillo - Live Coverage
EUR/JPY Technical Levels
To the upside, the next resistance is located at 136.93 (July 29 High) levels and above which it could extend gains 137.17 (July 27 High) levels. To the downside immediate support might be located at 135.69 (July 27 Low) below that at 135.48 (July 24 Low) levels.