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Forex: EUR/JPY at 114.50 after EMU Sentix confidence

By FXstreet.com,  January 07, 2013, 04:47:00 AM EDT

FXstreet.com (Barcelona) - The 114.12 price was its lowest today, printed as the European session opened, leaving then room for a shy bounce close to 114.50. The EUR/JPY is now digesting the release of the EMU Sentix Investor Confidence indicator, where data jumped from -16.8 to -7 in January, beating consensus of -15.0.

The Japanese Yen is one of the top gainers today, as financial markets consolidate the recent movements of the Yen and Japan equities. It's being reported that Japanese business lobby head Yonekura expects the USD/JPY to range at 75.00/90.00 and accepts the current 88.00 price.

The 200-week moving average, at 114.88. is a key juncture on the chart as well as a medium term upside objective and "we would not be surprised to see some consolidation in this zone", wrote Commerzbank analyst Karen Jones, pointing to support for dips at 111.43/57 (October 2011 high, March 2012 high and the short term uptrend).




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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