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27 Aug 2013
EUR/JPY tumbles on the ongoing Syrian civil war
FXstreet.com (Athens) - EUR/JPY is moving downwards on Tuesday’s morning European session on ‘Syrian war’ and ahead of German IFO.
Syria concerns dent sentiment toward risky assets.
The common currency lost major ground against its Japanese counter-part, as Syrian jitters wound substantially the ‘risk-appetite’ environment. In Germany the IFO survey for August will give the latest update on business conditions in the engine-room of the Euro zone; it is expected to edge up from 106.2 to 107.0. Last but not least, Japanese small business confidence for August, boosted to 49.7 versus 49.4.
Technical outlook on EUR/JPY
At the time of writing, the pair is trading at 130.90, down 0.60%. The FXstreet.com Trend Index shows the pair to be strongly bearish. Daily pivot point support can be found at 130.60, 130.27, 130.03 and resistance at 132.77, 133.10 and 133.44 respectively
Syria concerns dent sentiment toward risky assets.
The common currency lost major ground against its Japanese counter-part, as Syrian jitters wound substantially the ‘risk-appetite’ environment. In Germany the IFO survey for August will give the latest update on business conditions in the engine-room of the Euro zone; it is expected to edge up from 106.2 to 107.0. Last but not least, Japanese small business confidence for August, boosted to 49.7 versus 49.4.
Technical outlook on EUR/JPY
At the time of writing, the pair is trading at 130.90, down 0.60%. The FXstreet.com Trend Index shows the pair to be strongly bearish. Daily pivot point support can be found at 130.60, 130.27, 130.03 and resistance at 132.77, 133.10 and 133.44 respectively