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1 Apr 2013
Forex: EUR/JPY trades around 120.00 on the US session
FXstreet.com (Barcelona) - The EUR/JPY fell to as low as 119.50 on the European opening, counting almost with 1.00% in daily losses, but the cross was able to bounce back to the 120.00 handle, where it still quotes at.
The March Manufacturing PMI by ISM fell from 54.2 to 51.3, much lower than the market consensus of 54.1. ISM Prices Paid fell from 61.5 to 54.5, also below expectactions (59.8). The US construction spending beat consensus at 1.0% by rising 1.2% in February. In January, data had dropped by -2.1%. US March manufacturing PMI by Markit rose from 54.3 to 54.6, disappointing investors looking for a figure at 54.9.
On the downside, the EUR/JPY has supports at 118.99 (Feb-26 low) and 118.77 (Feb-25 low), while there is resistance at 120.88 (daily high) and 121.87 (Mar-27 high).
The March Manufacturing PMI by ISM fell from 54.2 to 51.3, much lower than the market consensus of 54.1. ISM Prices Paid fell from 61.5 to 54.5, also below expectactions (59.8). The US construction spending beat consensus at 1.0% by rising 1.2% in February. In January, data had dropped by -2.1%. US March manufacturing PMI by Markit rose from 54.3 to 54.6, disappointing investors looking for a figure at 54.9.
On the downside, the EUR/JPY has supports at 118.99 (Feb-26 low) and 118.77 (Feb-25 low), while there is resistance at 120.88 (daily high) and 121.87 (Mar-27 high).