13 Feb 2015
EUR/JPY uninspired by an upbeat German GDP report
FXStreet (Mumbai) - The EUR/JPY pair continues to hover in the narrow range of 135.60-135.80 post the release of an upbeat German Q4 GDP data.
Flirting with hourly 50-DMA
The pair is stuck around the hourly 50-DMA located at 135.72 after the official data in Germany showed the economy expanded 1.6% year-on-year and 0.7% quarter-on-quarter, up from previous readings at 0.1% and 1.2%, respectively.
A slight up move could be seen as the USD/JPY pair is inching closer to 119.00 levels. However, the EUR/USD offers no support as it trades unchanged around 1.1425 levels.
EUR/JPY Technical Levels
The immediate resistance is seen on the hourly chart at 135.89, above which the gains could be extended to 136.33 levels. On the flip side, a break below 135.72 (hourly 50-SMA), could push the pair down to 135.15 (hourly 100-SMA) levels.
Flirting with hourly 50-DMA
The pair is stuck around the hourly 50-DMA located at 135.72 after the official data in Germany showed the economy expanded 1.6% year-on-year and 0.7% quarter-on-quarter, up from previous readings at 0.1% and 1.2%, respectively.
A slight up move could be seen as the USD/JPY pair is inching closer to 119.00 levels. However, the EUR/USD offers no support as it trades unchanged around 1.1425 levels.
EUR/JPY Technical Levels
The immediate resistance is seen on the hourly chart at 135.89, above which the gains could be extended to 136.33 levels. On the flip side, a break below 135.72 (hourly 50-SMA), could push the pair down to 135.15 (hourly 100-SMA) levels.