25 Jul 2013
EUR/JPY stalling at fresh 2-month highs
FXstreet.com (Barcelona) - The EUR/JPY foreign exchange cross rate is last quoted near session highs at 132.40, off late NY session lows at 132.12, slightly in the positive for the week so far, retracing from late London session fresh 2-month highs at 132.74.
EUR/JPY rally far from over
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, “The hourly chart shows price well above moving averages, while indicators turn flat in positive territory after correcting extreme overbought readings, which suggests the rally is far from over. In the 4 hours chart, technical readings stand also in positive territory, although lacking strength at the time being. Key level to watch today is 133.80, this year high posted back in May, as once above, there’s little in the way towards the 135.00 area.”
EUR/JPY key technical levels
Bednarik locates support levels at: 132.00, 131.40 and 130.90, while resistance levels at: 132.70, 133.30 and 133.80.
EUR/JPY rally far from over
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, “The hourly chart shows price well above moving averages, while indicators turn flat in positive territory after correcting extreme overbought readings, which suggests the rally is far from over. In the 4 hours chart, technical readings stand also in positive territory, although lacking strength at the time being. Key level to watch today is 133.80, this year high posted back in May, as once above, there’s little in the way towards the 135.00 area.”
EUR/JPY key technical levels
Bednarik locates support levels at: 132.00, 131.40 and 130.90, while resistance levels at: 132.70, 133.30 and 133.80.