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6 May 2015
EUR/JPY trims gains on EMU data
FXStreet (Mumbai) - The shared currency shed partial gains versus the British pound in the European morning; with EUR/JPY elevated above 134 handle, as the euro was hit after the 19-nation bloc’s retail sales came in below expectations in March.
Poor EMU retail sales data drags EUR/JPY lower
Currently, the EUR/JPY cross trades 0.19% higher at 134.32, dropping nearly 30 pips post the data releaase. The cross in EUR/JPY trimmed gains and inched lower near 134 barrier after the downbeat European Monetary Union (EMU) retail sales (MoM) registered at -0.8%, below expectations (-0.7%) in March.
On the other hand, the pound trades muted across the board shrugging off upbeat UK services PMI reading which hit an eight month high in April. Meanwhile, markets now US employment data to provide further impetus to the cross.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 134.88 (Today’s High) and above which it could extend gains to at 135.29 (May 1 High) levels. To the downside immediate support might be located at 134.09 (Today’s Low) levels below that at 133.50 levels.
Poor EMU retail sales data drags EUR/JPY lower
Currently, the EUR/JPY cross trades 0.19% higher at 134.32, dropping nearly 30 pips post the data releaase. The cross in EUR/JPY trimmed gains and inched lower near 134 barrier after the downbeat European Monetary Union (EMU) retail sales (MoM) registered at -0.8%, below expectations (-0.7%) in March.
On the other hand, the pound trades muted across the board shrugging off upbeat UK services PMI reading which hit an eight month high in April. Meanwhile, markets now US employment data to provide further impetus to the cross.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 134.88 (Today’s High) and above which it could extend gains to at 135.29 (May 1 High) levels. To the downside immediate support might be located at 134.09 (Today’s Low) levels below that at 133.50 levels.