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
). 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.