- EUR/JPY is extending a gradual grind higher, remains supported above 5-DMA currently at 117.64.
- The pair has been confined in a narrow range amid thin liquidity on the back of a National holiday in Japan.
- Focus remains on Eurozone PMI data due later in the European session.
- October figures were strong and for the manufacturing PMIs a solid order-inventory balance signals an increase in Nov.
- For the service PMIs, the future business expectations index from October suggests an increase in the figure in November.
- Our previous call (http://www.econotimes.com/FxWirePro-EUR-JPY-on-track-to-test-200-DMA-good-to-buy-on-dips-409882) has achieved TP1&2.
- Technicals support further upside in the pair, we recommend holding for targets. Bullish invalidation on close below 5-DMA at 117.64.
FxWirePro's Hourly EUR Spot Index was at 63.9914 (Neutral), while Hourly JPY Spot Index was at -99.4084 (Slightly bearish) at 0721 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
