7 Apr 2015
EUR/JPY drops to 5-DMA
FXStreet (Mumbai) - The EUR/JPY pair fell to its 5-DMA located at 130.47 after the Eurozone services PMI and composite PMI for March missed the expectations.
EUR drops in a weaker-than-expected data
The shared currency came under pressure as the Eurozone services PMI for March printed-at 54.2, missing the estimate of 54.3. The data triggered a fall of 50 pips in the EUR/JPY pair – 130.88-130.47. Meanwhile, the better-than-expected German services PMI data failed to support the single currency.
The pair now trades at 13034 levels and has already breached the hourly 100-MA at 130.70 on its way down.
EUR/JPY Technical Levels
The immediate support is seen at 130.06 (hourly 100-MA) and 129.86 (hourly 200-MA), under which losses could be extended to 129.44 levels. On the flip side, a break above 130.70 (hourly 50-MA) could drive the pair higher to 131.28 levels.
EUR drops in a weaker-than-expected data
The shared currency came under pressure as the Eurozone services PMI for March printed-at 54.2, missing the estimate of 54.3. The data triggered a fall of 50 pips in the EUR/JPY pair – 130.88-130.47. Meanwhile, the better-than-expected German services PMI data failed to support the single currency.
The pair now trades at 13034 levels and has already breached the hourly 100-MA at 130.70 on its way down.
EUR/JPY Technical Levels
The immediate support is seen at 130.06 (hourly 100-MA) and 129.86 (hourly 200-MA), under which losses could be extended to 129.44 levels. On the flip side, a break above 130.70 (hourly 50-MA) could drive the pair higher to 131.28 levels.