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FxWirePro: EURJPY trades marginally higher after better than expected ZEW survey, break above 110-EMA to see further upside

EUR/JPY chart - Trading View 

  • EUR/JPY has retraced from session lows and is trading marginally higher at 126.38 at 1230 GMT.
     
  • The single currency slightly bid after better than expected ZEW survey data.
     
  • The ZEW survey showed German Economic Sentiment extended the bounce to -3.6 for the current month and Current Conditions eased to 11.1.
     
  • Also, Economic Sentiment in the broader euro bloc improved to -2.5, bettering consensus.
     
  • No significant development on the Brexit negotiations and the US-China trade front keep investors cautious.
     
  • Evolving risk-appetite trends will remain the main driver of the price action in the near term.
     
  • Technical studies for now support upside in the pair. Break above 110-EMA (126.61) will see further gains.
     
  • Immediate support lies at 21-EMA at 125.85. Break below major trendline support at 125 will negate any bullish bias.

Support levels - 125.85 (21-EMA), 125 (trendline)

Resistance levels - 126.61 (110-EMA), 127.50 (Mar 1 high)

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
 

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July 2 15:00 UTC Released

DKCurrency Reserves

Actual

449.6 Stale

Forecast

Previous

451.7 Stale

July 2 13:45 UTC Released

USISM NY Biz Conditions

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50 %

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Previous

48.6 %

January 31 00:00 UTC 766512766512m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 766512766512m

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 778332778332m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 766512766512m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 778332778332m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 766512766512m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 766512766512m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 766512766512m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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