EUR/JPY hit three-day low in Asia

EUR/JPY cross hit three-day low of 113.55 levels in Asia as losses in oil and Asian equities strengthened the bid tone around Yen.

Eyes services PMI releases and European stocks

The cross remains at the mercy of the equity market sentiment. Losses in oil prices could weigh over European stocks and add to the bid tone around JPY. Meanwhile, investors would also keep an eye on service PMI figure due for release across the Eurozone.

Later in the day, Eurozone retail sales number and US Markit services PMI number could influence the cross. At the time of writing, the cross was trading at 113.66 levels.

EUR/JPY Technical Levels

A break above immediate resistance at 113.97 (previous day’s low) would expose 114.35 (38.2% of 122.06-109.59). A violation there could yield 115.02 (10-DMA). On the other hand, support is seen at 113.26 (June 27 high) and 112.53 (23.6% of 122.06-109.59). Acceptance below the same would expose 113.39 (June 27 low).