The euro zone's data pushed the prices lower. In September compared to August, seasonally adjusted industrial production rose by 0.6% which is lower than the forecast of 1.0%. The Euro fell against the Yen in yesterday's session. Until the price closes above 144.42 on a daily closing basis, the weakness will persist. As we recommended earlier, on a weekly closing basis if the cross is closed above 143.78, it can challenge new upswing. The cross has been facing strong parallel resistance at 144.84 since January 2014, high above this 145.65 is an open target. In case if the pair breaches the 144.84 resistance level, fresh buying will add for a new target at 145.65 initially. In case if the price corrects below 142.09 levels, we can expect some more correction towards 141.70. In the h4 chart, the cross has been facing strong resistance at 144.10 and 35DEMA 144.20 levels. Risky traders can buy above 144.20 and safe traders can buy above 144.40. On the down side, the intraday support exists at the 143.30 and 143.15 levels. Risky traders can see below 143.30 and safe players can sell below 143.15 with the targets at 142.60 and 142.10 levels.
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