Forex: EUR/JPY holds at 101.90 after German data

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FXstreet.com (Barcelona) - The EUR/JPY is an example of the lower sentiment seen on Monday, down by -0.50% on the day ( GMT ), as Japan is closed for bank holidays and the World Bank revised down the Chinese GDP forecasts to 7.7% in 2012 (from 8.2%) and to 8.1% in 2013 (from 8.6%), getting in line with most private predictions.

The seasonally adjusted German trade surplus widened to €18.3 in August, against expectations of a drop from €16.3B to €15.3B. Exports rose +2.4% and Imports kept the steady +0.3% pace as expected. The EUR/JPY printed new daily lows at 101.90, but is trying to hold to it as support.

After rising every day last week, the EUR/JPY is weaker and has Friday's low at 101.87 as downside reference for support. Thursday's low at 101.31 comes next.



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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