EUR/JPY drops below 100-DMA

By FXStreet FXStreet (Mumbai) – The EUR was offered once again on a positive Eurozone data, pushing the EUR/JPY pair below its 100-DMA located at 136.27.

Rejected at 137.04

The cross was offered at a high of 137.04 earlier today, while the losses in the EUR were extended further after the Eurozone industrial production for July printed higher than expected. Off-late the EUR has been responding negatively to the positive data sets out of the Eurozone.

Meanwhile, the Japanese Yen remains bid as uncertainty is on the rise ahead of Thursday’s FOMC meeting. The EUR/JPY pair currently trades around 136.20 levels.

EUR/JPY Technical Levels

The immediate support is located at 135.80 (200-DMA), under which the slide could be extended to 135.34 (38.2% of 126.095-141.055). On the other side, resistance is seen at 137.04 (daily high) and 137.52 (23.6% of 126.095-141.055).
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Source:: FX Street