17 Mar 2015
EUR/JPY: Steady along the ascending support line
FXStreet (Guatemala) - EUR/JPY is currently trading at 128.35 with a high of 128.39 and a low of 128.14.
EUR/JPY is steady with gains through and on to the 128 handle with a rally that started at the base of the 13th March sell off from just below 129.00 down to 126.90. The cross has got a lift with the greenback shedding some weakness at the start of this week ahead of the FOMC and Yellen's Q&A's in the press conference.
Meanwhile, technically, the pair faces initial major resistance at 130.16 which is the January low. Karen Jones, chief analyst at Commerzbank suggested that above there comes 132.00, then the 2nd February low and finally for the near term, the 132.05 3-month downtrend. To the downside, we are watching space below 126.90 from the July 2012 uptrend with congestion until 123.10 and 2011 highs.
EUR/JPY is steady with gains through and on to the 128 handle with a rally that started at the base of the 13th March sell off from just below 129.00 down to 126.90. The cross has got a lift with the greenback shedding some weakness at the start of this week ahead of the FOMC and Yellen's Q&A's in the press conference.
Meanwhile, technically, the pair faces initial major resistance at 130.16 which is the January low. Karen Jones, chief analyst at Commerzbank suggested that above there comes 132.00, then the 2nd February low and finally for the near term, the 132.05 3-month downtrend. To the downside, we are watching space below 126.90 from the July 2012 uptrend with congestion until 123.10 and 2011 highs.