EUR/JPY under pressure, clings to gains around 130.30
|- EUR/JPY fades the initial uptick to 130.50 on Monday.
- Trading conditions remain thin amidst the US holiday.
- EMU’s Sentix index eased a tad to 19.6 in September.
The offered stance in the Japanese yen motivates EUR/JPY to return to the positive territory at the beginning of the week.
EUR/JPY focuses on the ECB event
EUR/JPY manages to resume the upside on Monday following Friday’s moderate pullback from new tops in the 130.70/75 band, all after the US Nonfarm Payrolls disappointed market participants in August.
In the meantime, the consolidative theme prevails in the global assets against the backdrop of diminished trading conditions in response to the inactivity in the US markets due to the Labor Day holiday.
The cross fades the early run to the mid-130.00s on Monday, as the decent recovery in the greenback puts the European currency under some mild downside pressure.
In the euro docket, in the meantime, the Sentix Index – which gauges the Investor Confidence in the euro area – receded to 19.6 for the current month while earlier data showed the German Factory Orders expanded 3.4% MoM in July, adding to June’s 4.6% expansion.
EUR/JPY relevant levels
So far, the cross is gaining 0.02% at 130.31 and a surpass of 130.74 (monthly high Sep.3) would expose 131.08 (100-day SMA) and then 131.75 (61.8% Fibo of the June-August drop). On the downside, the next support comes in at 130.08 (55-day SMA) seconded by 129.38 (monthly low Aug.19) and finally 127.93 (monthly low Aug.19).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.