30 Apr 2015
EUR/JPY: Bulls support at 132.20 in Tokyo
FXStreet (Guatemala) - EUR/JPY is currently trading at 132.20 with a high of 132.56 and a low of 132.21.
EUR/JPY is consolidated on the Tokyo open. EUR/JPY was a buying on dips play previously but the volatility has slowed down to a snails pace having squeezed out the less committed bulls below the 132 handle and sits on support in the 132.20's still.
The market event overnight came in the US GDP Q1 disappointment while the FOMC's optimism came to the rescue for the greenback and losses there were taken up again and profits taken off the table in to the close and consolidation phase across the board. Attention will now be o the BoJ later today and on going events around the Greek debt situation.
The BoJ is widely expected to give us little new until there is a significant drop in GDP or inflation while the Central Bank maintains a optimistic outlook that may under pin Yen strength. Technically the cross took out the February lows at 132.00 and stays with a bullish theme vs the 136 downtrend while 132.20 supports for now.
EUR/JPY is consolidated on the Tokyo open. EUR/JPY was a buying on dips play previously but the volatility has slowed down to a snails pace having squeezed out the less committed bulls below the 132 handle and sits on support in the 132.20's still.
The market event overnight came in the US GDP Q1 disappointment while the FOMC's optimism came to the rescue for the greenback and losses there were taken up again and profits taken off the table in to the close and consolidation phase across the board. Attention will now be o the BoJ later today and on going events around the Greek debt situation.
The BoJ is widely expected to give us little new until there is a significant drop in GDP or inflation while the Central Bank maintains a optimistic outlook that may under pin Yen strength. Technically the cross took out the February lows at 132.00 and stays with a bullish theme vs the 136 downtrend while 132.20 supports for now.