EUR JPY struggling to stay in advance
10/7/2016 10:23:37 AM
The EUR/JPY pair fell -0.28% to 115.60, struggling hard to regain 116 handle. The cross decreases losses, largely on the back of fresh signs of recovery seen in USD/JPY, while it nears 104 handle just ahead of the European opening bells.
While the EUR/USD pair meanders near two-month troughs just ahead of 1.11 handle, in spite of upbeat German industrial production data. Therefore, offering little support to the EUR/JPY recovery. Next of note for the spot remains the US labor market report due later on the day for additional moves in both the EUR and JPY.
The pair has an immediate persistence at 116.30 and from there to 116.50 and 117 next. On the other hand, next supports are seen at 115.33 and 115 below which it could expands losses to towards 114.65.