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3 Mar 2015
German retail sales push EUR/JPY higher
FXStreet (Mumbai) - The EUR/JPY higher ticked higher after the German retail sales data in January managed to beat the consensus estimate by a wide margin.
EUR/JPY: rises above hourly 50-MA
The pair currently trades above the hourly 50-SMA located at 134.06 levels after the German retail sales in January rose 5.3%, beating the estimate of 3.0%, and up from the December’s upwardly revised 4.8% rise. The strong data saw the pair recover from 133.93 to 134.11 levels. However, the gains are being capped by Japanese Yen, which continues to strengthen against the USD.
EUR/JPY Technical Levels
The pair has an immediate resistance at 134.25, above which gains could be extended to 134.58. On the flip side, support is seen at 133.86 and 133.43 levels.
EUR/JPY: rises above hourly 50-MA
The pair currently trades above the hourly 50-SMA located at 134.06 levels after the German retail sales in January rose 5.3%, beating the estimate of 3.0%, and up from the December’s upwardly revised 4.8% rise. The strong data saw the pair recover from 133.93 to 134.11 levels. However, the gains are being capped by Japanese Yen, which continues to strengthen against the USD.
EUR/JPY Technical Levels
The pair has an immediate resistance at 134.25, above which gains could be extended to 134.58. On the flip side, support is seen at 133.86 and 133.43 levels.