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31 Oct 2013
EUR/JPY falls to 1-week lows after EMU data
FXstreet.com (Córdoba) - The EUR/JPY slumped to a fresh 1-week low after Eurozone consumer inflation and employment data also disappointed.
A preliminary reading for Eurozone October CPI fell to 0.7% against 1.1% expected, while September unemployment rate came in above expectations at 12.2%. The shared currency took a hit and weakened across the board. The EUR/JPY broke below 134.50 and dropped to a low of 134.15 before recovering slightly.
EUR/JPY levels to watch
At time of writing, the EUR/JPY is trading at the 134.20 region, recording a % loss on the day, with immediate supports at 134.00 (psychological level), 133.87 (Oct 25 low) and 133.59 (Oct 23 low). On the other hand, resistances are seen at 134.50 (10-day SMA) and 135.00 psychological level).
A preliminary reading for Eurozone October CPI fell to 0.7% against 1.1% expected, while September unemployment rate came in above expectations at 12.2%. The shared currency took a hit and weakened across the board. The EUR/JPY broke below 134.50 and dropped to a low of 134.15 before recovering slightly.
EUR/JPY levels to watch
At time of writing, the EUR/JPY is trading at the 134.20 region, recording a % loss on the day, with immediate supports at 134.00 (psychological level), 133.87 (Oct 25 low) and 133.59 (Oct 23 low). On the other hand, resistances are seen at 134.50 (10-day SMA) and 135.00 psychological level).