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4 May 2015
EUR/JPY drops after Eurozone PMI report
FXStreet (Mumbai) - The EUR/JPY fell to a session low of 133.76 after the German and Eurozone PMI showed the pace of manufacturing activity slowed down in April.
EUR/JPY: Losses restricted at 5-DMA
At the moment, the pair is able to restrict its losses around its 5-DMA located at 133.81. The EUR was being offered by the German manufacturing PMI in April slowed to 52.1 from 52.8 in March. Meanwhile, the Eurozone manufacturing PMI in April also slowed down to 52.00 from 52.2 in March.
The weakness in the activity weighed over the EUR, however, the losses in the pair have been restricted to some extent as the strength in the treasury yield caps gains in the JPY. The Eurozone Sentix investor confidence in May fell to 19.6 from 20.0 in March.
EUR/JPY Technical Levels
The immediate resistance is located at 134.71, above which the pair could test Friday’s high of 135.27. On the flip side, a break below 133.50, could drive the pair lower to 132.33 (100-DMA) levels.
EUR/JPY: Losses restricted at 5-DMA
At the moment, the pair is able to restrict its losses around its 5-DMA located at 133.81. The EUR was being offered by the German manufacturing PMI in April slowed to 52.1 from 52.8 in March. Meanwhile, the Eurozone manufacturing PMI in April also slowed down to 52.00 from 52.2 in March.
The weakness in the activity weighed over the EUR, however, the losses in the pair have been restricted to some extent as the strength in the treasury yield caps gains in the JPY. The Eurozone Sentix investor confidence in May fell to 19.6 from 20.0 in March.
EUR/JPY Technical Levels
The immediate resistance is located at 134.71, above which the pair could test Friday’s high of 135.27. On the flip side, a break below 133.50, could drive the pair lower to 132.33 (100-DMA) levels.