FXstreet.com (Barcelona) - The strong risk-off sentiment felt lately led the EUR/JPY to print a low at 97.36 during the Asian session. Expectations ahead of economic indicators in Europe are helping the corrective momentum.
The EUR/JPY has bounces back to the opening price at 79.77 in early Europe after the release of Germany retail sales up by 0.6% in April (MoM) from 0.0% consensus, although -3.8% lower in yearly basis.
Commerzbank analysts expect the market to stabilize at 97.04: “If not, the 2009-12 support line at 95.21 and the 61.8% Fibonacci extension of the 2011-12 decline, projected lower from the March 2012 high, at 95.18 will be in play”, wrote analyst Karen Jones.
The EUR/JPY has bounces back to the opening price at 79.77 in early Europe after the release of Germany retail sales up by 0.6% in April (MoM) from 0.0% consensus, although -3.8% lower in yearly basis.
Commerzbank analysts expect the market to stabilize at 97.04: “If not, the 2009-12 support line at 95.21 and the 61.8% Fibonacci extension of the 2011-12 decline, projected lower from the March 2012 high, at 95.18 will be in play”, wrote analyst Karen Jones.
