RTTN: EUR/JPY on the rise after Germany's PPI and IFO
FXstreet.com (Barcelona) - The euro rising 0.57% against the yen, after three daily consecutive gains. Germany's PPI numbers were announced today, with the YoY and MoM changes beating the expectations, reaching 3.3% and 0.6%, respectively. The figures display a slight acceleration in the pace of inflation (previous figures were 3.2% and 0.4%, respectively). Germany beat all forecasts for the IFO surveys for expectations, business climate and current assessments.
On the other hand, Japan's tertiary industry index came out worse than expected with no growth (0.0% MoM) vs. a forecast of 0.6%.
The pair is currently trading at 107.86, with resistance at 107.89 and 108.41, according to FXstreet.com pivot points on technical tools. On the downside, there is support at 106.68 before 106.17 and 105.82.
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