EUR/JPY: treading steadily on 136 handle

By FXStreet FXStreet (Guatemala) – EUR/JPY is currently trading at 136.03 with a high of 136.15 and a low of 135.88.

EUR/JPY has moved back in to the hands of the bears from through the 137 handle when supply on the back of resistance at 137.20 with 136 support now holding for the meanwhile. The Yen has been resilient to the greenback again with 124 a tough handle to conquer. Last week’s wage data from the US was a blow out for the greenback and we are now back to testing below the 124 handle and on the support of the end of June’s bearish gap.

Domestically, while, Japan’s inflation trend is improving steadily, over the weekend, the Bank of Japan Governor Kuroda, in an interview with Japanese newspaper Yomiuri, said there is no immediate need for additional monetary easing, adding that the BOJ will adjust policy if needed. This comes ahead of the BoJ’s monetary policy statement this week and his speech. The key drivers will come in the Greek headlines, Nonfarm Payrolls for the US jobs market at the end of the week along with German Industrial Production,

Analysts at TD Securities explained that the early data suggests there is …read more

Source:: FX Street