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EUR/JPY Corrective Pullback Extends to Second Session

EURJPY
  • EUR/JPY extending corrective pullback on the PMIs, putting the cross through last week's lows of 157.66 as well as the 23.6% retracement for the Jul - Aug upleg. Next key level on the way lower: the 156.66 50-dma that's helped define the uptrend off the March lows.
  • JPY the main beneficiary of the soft data this morning, but the USD also gaining and helping keep GBP/USD under pressure and at the lowest levels of the week so far.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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