15 Oct 2013
EUR/JPY gives in 133.70
FXstreet.com (Chicago) - EUR/JPY prints lower highs and lows at Tokyo’s opening on Washington’s lack of decisiveness.
Washington’s indecision
The yen weakened until market participants realized no deal will take place tonight on meeting postponing between congressional members and president Obama. Ahead of Japanese industrial production data and European ZEW results, the pair succumbs to bearish pressure.
EUR/JPY Technical Levels
Technically speaking, the pair remains capped below the 133.80 zone after remarkable climb on yen’s weakening due to US crisis potentially coming to an end. Falling at Tokyo’s opening, the pair remains above the EMA20 and is offered at 133.66. On the downside, supports are aligned at 133.51 (October 11th highs), 133.22 (October 3rd highs) ahead of 133 (October 12th lows) and the resistances set at 133.91 (September 25th highs), 134.16 (September 20th lows) followed by 134.69 (September 20th highs).
Washington’s indecision
The yen weakened until market participants realized no deal will take place tonight on meeting postponing between congressional members and president Obama. Ahead of Japanese industrial production data and European ZEW results, the pair succumbs to bearish pressure.
EUR/JPY Technical Levels
Technically speaking, the pair remains capped below the 133.80 zone after remarkable climb on yen’s weakening due to US crisis potentially coming to an end. Falling at Tokyo’s opening, the pair remains above the EMA20 and is offered at 133.66. On the downside, supports are aligned at 133.51 (October 11th highs), 133.22 (October 3rd highs) ahead of 133 (October 12th lows) and the resistances set at 133.91 (September 25th highs), 134.16 (September 20th lows) followed by 134.69 (September 20th highs).