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26 Feb 2015
EUR/JPY slips to fresh lows, shrugs off solid German data
FXStreet (Mumbai) - EUR/JPY witnessed a renewed round of selling in the mid-European session, knocking off the cross to fresh session lows, despite solid German labour market report.
EUR/JPY remains below 135 handle
Currently, the EUR/JPY pair trades lower by -0.14% on the day at 134.82 levels, hovering close to fresh session lows posted at 134.77 levels immediately after the data release. The EUR/JPY trades fell further into red as markets were left unimpressed by upbeat German jobs data which showed that German labor market continued on strong footing as the number of unemployed people in the country declined for the fifth consecutive month in February.
The number of people out of job fell by 20,000 during February, compared to expectations for a drop of 10,000. While, jobless rate, booked 6.5%, the lowest level in 20 years.
Meanwhile, traders now shift their attention towards ECB TLTRO's result for further momentum. At the moment, USD/JPY trades lower by -0.07% at 118.77 levels, while EUR/USD trades almost unchanged at 1.1354 levels.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 135.57 and above which it could extend gains to at 135.94 levels. To the downside immediate support might be located at 134.57 levels below that at 134 levels
EUR/JPY remains below 135 handle
Currently, the EUR/JPY pair trades lower by -0.14% on the day at 134.82 levels, hovering close to fresh session lows posted at 134.77 levels immediately after the data release. The EUR/JPY trades fell further into red as markets were left unimpressed by upbeat German jobs data which showed that German labor market continued on strong footing as the number of unemployed people in the country declined for the fifth consecutive month in February.
The number of people out of job fell by 20,000 during February, compared to expectations for a drop of 10,000. While, jobless rate, booked 6.5%, the lowest level in 20 years.
Meanwhile, traders now shift their attention towards ECB TLTRO's result for further momentum. At the moment, USD/JPY trades lower by -0.07% at 118.77 levels, while EUR/USD trades almost unchanged at 1.1354 levels.
EUR/JPY Levels to consider
To the upside, the next resistance is located at 135.57 and above which it could extend gains to at 135.94 levels. To the downside immediate support might be located at 134.57 levels below that at 134 levels