EUR/JPY overbought and nearing correction resistance at 132.73

FXstreet.com (Barcelona) – The EUR/JPY has been on the rise as European data has been trending bullish while Japan continues to search for answers to their internal issues.

With weak data flow, EUR/JPY will look to global equity markets for guidance

There will not be any market-moving data points for Europe or Japan on Monday, so traders will have to key off of the European and Japanese equity markets trading action for short-term directional guidance. Early Monday, the Nikkei was just below the flat line – so no clear guidance is to be gleaned by EUR/JPY traders thus far. …read more