27 Jun 2013
EUR/JPY testing the 128.00 barrier
FXstreet.com (New York) - The EUR/JPY technical cross has been trading sideways recently, after reaching the 128.00 barrier during US trading Thursday.
EUR/JPY already below support
At the time of writing, the EUR/JPY pair is trading at 128.04, securing a robust gain of +0.70%, despite operating slightly off its highs (128.26). Following an earlier movement above resistance at 127.93, Danske Bank analysts calculate the next resistive structures in the short-term at 128.43 then 128.67.
EUR/JPY neutrality below 50-day SMA
According to the Technical Analyst Team at ICN.com, “The EURJPY pair continues to trade below the main descending trend line, and the 50-day SMA. The bias at the current levels remains neutral, and thus we are obliged to remain neutral awaiting further clarity.”
EUR/JPY already below support
At the time of writing, the EUR/JPY pair is trading at 128.04, securing a robust gain of +0.70%, despite operating slightly off its highs (128.26). Following an earlier movement above resistance at 127.93, Danske Bank analysts calculate the next resistive structures in the short-term at 128.43 then 128.67.
EUR/JPY neutrality below 50-day SMA
According to the Technical Analyst Team at ICN.com, “The EURJPY pair continues to trade below the main descending trend line, and the 50-day SMA. The bias at the current levels remains neutral, and thus we are obliged to remain neutral awaiting further clarity.”