EUR/JPY remains pressurized below 132.00 ahead of EU PMI data

EUR/JPY trades with initial gains on Monday in the Asian session.
The Euro gains limited on mixed ECB views, despite strong economic data.
Yen suffers from a surge in corona cases ahead of the Olympics.

Rekha Chauhan Independent Analyst

EUR/JPY prints some gains on Monday in the Asian trading hours. The pair opened lower following the previous week’s downside momentum. However, rose quickly to touch an intraday high at 131.83 in a narrow training range.

At the time of writing, EUR/JPY is trading at 131.76, up 0.07% for the day.

The shared currency came under pressure after the ECB President Christine Lagarde said on Friday that economic recovery remained fragile, despite it showing signs of revival from a pandemic-induced slump.

Meanwhile, Dutch Central Bank President and member of the Governing Council Klaas Knot warned that fear of inflation might not be temporary. This year the ECB forecast inflation of 1.9%, slightly below 2%.

The World Health Organization (WHO) warned of a third coronavirus wave in Europe as cases rose after a 10-week decline.

It is worth noting that S&P 500 Futures were trading at 4,352 with 0.75% gains.

On the other hand, the Japanese yen remained pressurized as the country lags behind its counterpart in the vaccination rollout program amid the rising highly infectious Delta variant.

Tokyo recorded a huge increase in the new COVID-19 cases on Saturday, from 534 reported a week earlier to 716 cases.

As for now, traders await the German Markit Purchase Managers Index (PMI) data, Eurozone PMI data to gauge the market sentiment.

EUR/JPY additional levels

EUR/JPY

Overview
Today last price	131.81
Today Daily Change	0.02
Today Daily Change %	0.02
Today daily open	131.79

Trends
Daily SMA20	132.36
Daily SMA50	132.47
Daily SMA100	130.95
Daily SMA200	128.04

Levels
Previous Daily High	132.23
Previous Daily Low	131.68
Previous Weekly High	132.43
Previous Weekly Low	131.28
Previous Monthly High	134.13
Previous Monthly Low	130.04
Daily Fibonacci 38.2%	131.89
Daily Fibonacci 61.8%	132.02
Daily Pivot Point S1	131.57
Daily Pivot Point S2	131.35
Daily Pivot Point S3	131.02
Daily Pivot Point R1	132.12
Daily Pivot Point R2	132.45
Daily Pivot Point R3	132.68

Author

Rekha Chauhan

Independent Analyst

Rekha Chauhan has been working as a content writer and research analyst in the forex and equity market domain for over two years.

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