EUR/JPY hovers around lows after German data

By FXStreet FXStreet (Mumbai) – The bid tone on the EUR failed to pick up pace, leaving the EUR/JPY pair around the session lows at 133.40 despite the upbeat German IFO data.

EUR under pressure as stocks rise

The shared currency remains under pressure as the stock markets across Europe ticked higher. The German IFO- business climate and expectations index surprised on the positive side, while the current assessment dropped more than the estimates.

Meanwhile, hawkish comments from Japan’s Hamada kept the bid tone on the JPY intact in Europe. The pair hit a low of 133.36 earlier today, before the sell-off halted.

EUR/JPY Technical Levels

The immediate support is seen at 133.15 (Sep 23 low), under which the pair could drop to 132.64 (Sep 7low) and 132.23 (Sep 4 low). On the other side, resistance is seen at 133.87 (hourly 50-MA) and 134.27 (Oct 23 high).
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Source:: FX Street