30 Aug 2013
EUR/JPY unchanged around 130 despite big moves in EUR and JPY against USD
FXstreet.com (Barcelona) - The EUR/JPY foreign exchange cross rate is currently trading at 130.23 trapped inside a tight range despite big moves against USD in its respective EUR and JPY components, but both to the downside, thus EUR/JPY flat, ahead of a batch of minor Japan data starting at 23:30 GMT.
EUR/JPY presents a neutral stance
“As for the short term, the hourly chart shows indicators hovering around their midlines, but 100 SMA crossing 200 one to the downside above current price which suggest further falls ahead,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “Bigger time frames also present a neutral stance, with 130.60 as immediate resistance to break to see some recoveries in the pair.”
EUR/JPY key technical levels
Bednarik finds support levels at: 129.80, 129.35 and 128.80, while resistance levels at: 130.60, 131.00 and 131.55.
EUR/JPY presents a neutral stance
“As for the short term, the hourly chart shows indicators hovering around their midlines, but 100 SMA crossing 200 one to the downside above current price which suggest further falls ahead,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “Bigger time frames also present a neutral stance, with 130.60 as immediate resistance to break to see some recoveries in the pair.”
EUR/JPY key technical levels
Bednarik finds support levels at: 129.80, 129.35 and 128.80, while resistance levels at: 130.60, 131.00 and 131.55.