EUR JPY Increased higher
8/26/2016 8:40:44 PM
The cross got a fresh bid-wave and ultimately ended the constant range, breaking more beyond 113.50, in answer to upbeat German data. The EUR/JPY pair now trades +0.10% higher at 3 day highs of 113.55, aiming for a test of 114.00 handle. The EUR/JPY cross jumped higher, as the European trader hit their desks and reacted positively to the latest German economic release, which improved expectations. The German GFK consumer sentiment for September increased to 10.2 against 9.9 expectations. While on the JPY-side of the equation, the USD/JPY pair trades comatose around 100.40 levels, prepare little motivation to the cross, as markets wait for the US GDP numbers and Yellen’s speech for fresh moves in the USD, which will finally influence both the EUR and JPY. The pair has an immediate persistence at 114.00 and from there to 114.80. On the other hand, support is seen at 113.10 below which it could extend losses to towards 112.60.
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