Forex: EUR/JPY held by Oct-4 low, at 101.31

By FXstreet.com,  October 08, 2012, 05:30:00 AM EDT

FXstreet.com (Barcelona) - Risk aversion is palpable today and the EUR/JPY dropped as low as 101.31, -1.10% on the day ( GMT ), just ahead of the release of the Sentix Investor Confidence in the Eurozone, that improved from -23.2 to -22.2 in October. However, the figure didn't reach the consensus of -20.8.

The EUR/JPY is retracing part of the recent losses, trading at 101.45. Ahead is industrial production in Germany, last piece of relevant data of the trading day.

Thursday's low at 101.31 is holding the pair from further downside ahead of the 101.00 psychological level. On the upside, Friday's low at 101.87 and the 102.00 mark may serve as resistance.




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

Referenced Stocks: GMT



Latest News Video

What Sectors Are Vulnerable Now?
What Sectors Are Vulnerable Now?    
From Google to FedEx: Less Offshore Holdings? Maybe Not
From Google to FedEx: Less Offshore...
Copper Prices Climb to New Heights, But...
Copper Prices Climb to New Heights,...
Rioting Puts Pressure on Swedish Government
Rioting Puts Pressure on Swedish Go...


Sign-in
Existing NASDAQ.com member? Log in here.

By signing into to the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.

From Our Trusted News Source





Most Active by Volume:

Company Last Sale Change Net / %
BAC $ 13.21 0.10  0.75%
HPQ $ 24.86 3.63  17.10%
SIRI $ 3.545 0.01  0.28%
MU $ 11.39 0.47  4.30%
MSFT $ 34.15 0.46  1.33%
F $ 14.81 0.16  1.07%
QQQ $ 73.45 0.17  0.23%
GE $ 23.66 0.20  0.84%