9 Jan 2015
EUR/JPY bounces at 140.20; back to 140.50
FXStreet (San Francisco) - After declining 80 pips from 141.00, the EUR/JPY seems to have found support at 140.20 where the pair experienced buying interest that sent it back to 140.50.
Currently, EUR/JPY is trading at 140.45, down 0.41% on the day, having posted a daily high at 141.39 and low at 140.19. The hourly FXStreet OB/OS Index is showing oversold conditions, alongside the FXStreet Trend Index which is slightly bearish.
EUR/JPY sentiment
According to Hantec Market analyst Richard Perry, "there is a medium term pivot level around 141 which has been breached and if this continues it opens for further correction towards 138/139."
Below the 140.20, the EUR/JPY will find supports at 140.00 and 138.80. To the upside, resistances are at 140.40, 141.00 and 141.40.
Currently, EUR/JPY is trading at 140.45, down 0.41% on the day, having posted a daily high at 141.39 and low at 140.19. The hourly FXStreet OB/OS Index is showing oversold conditions, alongside the FXStreet Trend Index which is slightly bearish.
EUR/JPY sentiment
According to Hantec Market analyst Richard Perry, "there is a medium term pivot level around 141 which has been breached and if this continues it opens for further correction towards 138/139."
Below the 140.20, the EUR/JPY will find supports at 140.00 and 138.80. To the upside, resistances are at 140.40, 141.00 and 141.40.