Forex: EUR/JPY finds resistance at 125.75

FXstreet.com (Córdoba) - The euro extended gains versus the yen during the European session and reached a 3-day high in recent dealings, underpinned by the positive market mood and after the eurozone CPI data came in as expected.

EUR/JPY climbed over 80 pips within the last hours, and hit a high of 125.73 before finding resistance and easing somewhat. At time of writing, EUR/JPY is trading around 125.60, 0.5% above its opening price.

If the EUR/JPY breaks above 125.75, next resistances could be found at 126.00 (psychological level) and 126.55 (Feb 13 high). On the other hand, supports are seen at 124.80 (intraday low), 124.00 and 123.80 (Mar 8 low).

Mar 15, 2013

Forex: EUR/GBP pares losses and returns to 0.8616/20

The EUR/GBP has pared its losses after an earlier setback that dragged the pair to the 0.8603 region (intraday minimum) Friday. After the release of economic data in the EMU however, the pair has recovered the mark of 0.8616/20, returning to opening levels during European trading.

Forex Flash: US industrial production in focus as economy outperforms – UBS

On the data front, US industrial production numbers are due today and we expect a 0.6% rebound after January's slight decline. According to Research Analysts Gareth Berry and Geoffrey Yu at UBS, “Further expansion would only confirm that activity in the US is outperforming.”