EUR/JPY bouncing Wednesday after fairly sharp sell-off Tuesday; support at 132.76

FXstreet.com (Barcelona) - The EUR/JPY being crushed Tuesday was the global investment community expressing their disappointment with the goings on in DC. All that damage can be reversed and then some at the first hint of real resolution in the coming days.

EUR/JPY to react to data and the ”DC Two-Step”

EUR/JPY went from trading extremely bullishly Monday to full correction mode Tuesday. Thus far on Wednesday, though, we have seen a strong bounce – perhaps technically generated – off of the Fibonacci retracement of 132.76.

In addition to monitoring Washington DC for progress Wednesday, traders will have to digest EuroZone CPI and trade balance data.

Technical outlook for EUR/JPY

Technicians say that resistance for the EUR/JPY comes in at Tuesday’s high of 133.61 and is backed up by Monday’s high of 133.82. Support meanwhile comes in at Fibonacci support of 132.76 and is followed by the 10/10 low and the next Fibonacci support of 132.45.

U.S. senate leaders will not announce deal on Tuesday

Despite the latest reports sounded optimistic about Senate Majority Leader Harry Reid and Senate Minority Leader Mitch McConnell finalizing a deal to avoid a default on U.S. debt and reopen the government, headlines crossing the wires suggest that U.S. senate leaders will not announce deal on Tuesday.
Mehr darüber lesen Previous

AUD/NZD extends bearish channel below 1.1350

AUD/NZD remains trading around session lows below the 1.1350 front after the release of data in both countries.
Mehr darüber lesen Next