EUR/JPY hovers around 135.00

By FXStreet FXStreet (Mumbai) – The EUR/JPY pair is trading largely unchanged on the day around 135.00 levels as markets pushed both EUR and JPY lower against the USD tracking gains in the US equity index futures.

Rejected at 100-DMA

The cross was offered at its 100-DMA located at 135.80 earlier today. The carry unwind amid fresh signs of weakness in the European session had pushed the EUR higher across the board. However, the European equities managed to remain in positive territory, which also ensured the major US index futures strengthened almost 1%.

Consequently, the EUR was offered, resulting in the EUR/JPY erasing gains to trade around 135.00 levels. Ahead in the day, the sentiment on the Wall Street could continue to influence the EUR/JPY cross.

EUR/JPY Technical Levels

The immediate support is located at 134.67 (previous session’s low), under which losses could be extended to 134.32 (July 17 low). On the other hand, resistance is seen at 135.30 (Aug 27 low) and 135.80 (100-DMA).
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Source:: FX Street