13 Oct 2014
EUR/JPY poking at 136.00 resistance
FXStreet (Moscow) - EUR/JPY has recovered from Asian low at 135.54; currently, the cross sits right below 136.00 resistance, waiting for additional catalyst to break above this pivot.
EUR/JPY ended the third consecutive week in red and reached the channel base at 135.80/90. The cross started the day with a gap lower on the back of JPY strength across the board amid high volatility and anti-risk sentiments. Though EUR recovery against USD helped the cross to recover from losses and fill the gap. Ahead looks like a quiet calendar as US markets are closed for Columbus day, while Europe publishes a second tier report on German whole sale prices. It means that EUR/JPY might be influenced by speculative flows and technical factors. Once we are clearly above 136.00, the upside may extend towards 136.29.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 136.29, with support below at 135.49, 135.04 and 134.24, with resistance above at 136.75, 137.55, and 138.00. Hourly Moving Averages are bearish with the 200SMA bearish at 137.34 and the daily 20EMA bearish at 137.77. Hourly RSI is bearish at 34.
EUR/JPY ended the third consecutive week in red and reached the channel base at 135.80/90. The cross started the day with a gap lower on the back of JPY strength across the board amid high volatility and anti-risk sentiments. Though EUR recovery against USD helped the cross to recover from losses and fill the gap. Ahead looks like a quiet calendar as US markets are closed for Columbus day, while Europe publishes a second tier report on German whole sale prices. It means that EUR/JPY might be influenced by speculative flows and technical factors. Once we are clearly above 136.00, the upside may extend towards 136.29.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 136.29, with support below at 135.49, 135.04 and 134.24, with resistance above at 136.75, 137.55, and 138.00. Hourly Moving Averages are bearish with the 200SMA bearish at 137.34 and the daily 20EMA bearish at 137.77. Hourly RSI is bearish at 34.