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Forex: EUR/JPY´s overnight range narrows in Europe

By FXstreet.com,  January 11, 2013, 04:14:00 AM EDT

FXstreet.com (Barcelona) - EUR/JPY range traded throughout the overnight session but has moved in increasingly tighter range into the European session.

Spot made an early overnight high at 118.58, before posting a session low at 117.67 and ranging in between since. Hourly RSI is at 65 and moving with flattening downward momentum. The overnight session saw generally better Chinese inflation data and Japanese economic survey results. European data has been a big sluggish so far this morning with Spanish Industrial Output and Swiss CPI disappointing. Ahead we have an Italian 3 yr auction and UK Industrial and Manufacturing Production, alongside a 10 year bond auction. Danske analysts, whilst vague, note that there is a bullish feel to the market and they recommend looking for buying opportunities.




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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