Forex: EUR/JPY fully retraces daily losses
Forex pairs in this Article »
EUR/JPY
FXstreet.com (Barcelona) - Not only the EUR is weaker on the day but the Yen is trading stronger, which has been putting the EURJPY under pressure, down to 121.22 low during the European morning. The cross was able to retrace back a bit, but it is still -0.63% down on the day, at 121.48.
Spain retail sales are out and worse: annualized contraction from -7.8% to -10.7% in December. Also out for the public eye is German GfK consumer confidence, up from 5.7 (revised from 5.6) to 5.8, and Import Price Index, that contracted -0.5% in December. France published its consumer confidence figure, still at 86.00 as expected.
Investors will now eye US S&P/Case-Shiller Home Prices and consumer confidence data ahead in the NY session.
"Monitor the support at 120.67 (25/01/2013 low). Another support can be found at 119.23 (intraday low, see also rising trendline)", wrote MIG Bank analyst Bijoy Kar, expecting further long-term strength towards the strong resistance at 139.22 (05/06/2009 high).
Spain retail sales are out and worse: annualized contraction from -7.8% to -10.7% in December. Also out for the public eye is German GfK consumer confidence, up from 5.7 (revised from 5.6) to 5.8, and Import Price Index, that contracted -0.5% in December. France published its consumer confidence figure, still at 86.00 as expected.
Investors will now eye US S&P/Case-Shiller Home Prices and consumer confidence data ahead in the NY session.
"Monitor the support at 120.67 (25/01/2013 low). Another support can be found at 119.23 (intraday low, see also rising trendline)", wrote MIG Bank analyst Bijoy Kar, expecting further long-term strength towards the strong resistance at 139.22 (05/06/2009 high).
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