5 Jun 2015
EUR/JPY rises to 140.00
FXStreet (Mumbai) - The EUR/JPY pair rose to a high of 132.00 after the German factory orders in April rose faster than expected.
Gains capped at hourly 100-MA
The pair failed to sustain gains above its 100-MA located at 139.97 and fell back to 139.80 levels. A 30-pip spike from 139.70 to 140.00 after the data in Germany showed factory orders in April rose 1.4% month-on-month, beating the estimate of a drop to 0.5% from the previous figure of 0.9%. Year-on-year the number improved to 1.4% from 1.1%.
Ahead in the day, the EUR/JPY cross could be influenced by the Greek deal saga and Eurozone first quarter GDP numbers.
EUR/JPY Technical Levels
The immediate resistance is seen at 140.00, above which gains could be extended to 140.90. On the flip side, a break below 139.38 could drive the pair lower to 138.50.
Gains capped at hourly 100-MA
The pair failed to sustain gains above its 100-MA located at 139.97 and fell back to 139.80 levels. A 30-pip spike from 139.70 to 140.00 after the data in Germany showed factory orders in April rose 1.4% month-on-month, beating the estimate of a drop to 0.5% from the previous figure of 0.9%. Year-on-year the number improved to 1.4% from 1.1%.
Ahead in the day, the EUR/JPY cross could be influenced by the Greek deal saga and Eurozone first quarter GDP numbers.
EUR/JPY Technical Levels
The immediate resistance is seen at 140.00, above which gains could be extended to 140.90. On the flip side, a break below 139.38 could drive the pair lower to 138.50.