Forex: EUR/JPY prints low at 101.12

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FXstreet.com (Barcelona) - The EUR/JPY printed its daily low at 101.12 in mid-European morning, where it was down by -1.21% on the day ( GMT ). From there, the market allowed a bounce to 101.45 area (-1.00%) as investors await the Eurogroup meeting.

The FX market is currently under a very thin trading with an empty economic calendar and holidays in the US and Canada. day, Overnight, 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. Such move is one of the factors dragging sentiment down. The seasonally adjusted 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 current daily low at 101.12 is now an intraday support 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

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