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24 Feb 2015
EUR/JPY little changed after Euro Zone CPI falls to record lows
FXStreet (Mumbai) - EUR/JPY remained unmoved above 135 in the mid-European session after Euro zone CPI data showed that the 19-nation bloc’s consumer prices markedly accelerated their downturn in January.
EUR/JPY hovers around 135 levels
Currently, the EUR/JPY pair traded higher by 0.30% on the day at 135.08 levels, having posted fresh session highs at 135.22 levels before the data release. The EUR/JPY remained little affected by the downbeat Euro zone inflation data that confirmed consumer prices in the euro zone dropped for a second straight month in January. Prices in the 19 countries using the single currency in January were 0.6% lower than a year earlier, after a 0.2% decline in December. On the month-on-month basis, the gauge trashed 1.6%, falling markedly deeper than the 0.1% downturn seen in December.
EUR/JPY remained elevated largely on yen weakness after USD/JPY edged higher ahead of Fed Yellen’s testimony. At the moment, USD/JPY trades higher by 0.59% at 119.51 levels, while EUR/USD declines by -0.30% at 1.1300 levels.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 135.34 and above which it could extend gains to at 135.94 levels. To the downside immediate support might be located at 134.74 levels below that at 134 levels
EUR/JPY hovers around 135 levels
Currently, the EUR/JPY pair traded higher by 0.30% on the day at 135.08 levels, having posted fresh session highs at 135.22 levels before the data release. The EUR/JPY remained little affected by the downbeat Euro zone inflation data that confirmed consumer prices in the euro zone dropped for a second straight month in January. Prices in the 19 countries using the single currency in January were 0.6% lower than a year earlier, after a 0.2% decline in December. On the month-on-month basis, the gauge trashed 1.6%, falling markedly deeper than the 0.1% downturn seen in December.
EUR/JPY remained elevated largely on yen weakness after USD/JPY edged higher ahead of Fed Yellen’s testimony. At the moment, USD/JPY trades higher by 0.59% at 119.51 levels, while EUR/USD declines by -0.30% at 1.1300 levels.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 135.34 and above which it could extend gains to at 135.94 levels. To the downside immediate support might be located at 134.74 levels below that at 134 levels