17 Oct 2013
EUR/JPY rally Wednesday erases most of Tuesday’s losses; resistance looms at 133.82
FXstreet.com (Barcelona) - Wednesday, EUR/JPY traders experienced the upswing of the see-saw action that has characterized global risk markets recently. Maybe a DC resolution will assist in reducing the swings a bit.
EUR/JPY traders get EuroZone data to digest Thursday; risk mood to drive trading, though
The EUR/JPY continued the pattern of changing directions from day to day and whipsawing over-active traders. Clearly, the volatility has been DC-induced, so a resolution on that front should return some sense of normalcy to the EUR/JPY arena.
Technical outlook for EUR/JPY
Technicians say that resistance for the EUR/JPY comes in at Tuesday’s high of 133.82 and is backed up by the 9/19 high of 134.94. Support meanwhile comes in at Tuesday’s low of 132.62 and is followed by the 10/11 low of 132.43.
EUR/JPY traders get EuroZone data to digest Thursday; risk mood to drive trading, though
The EUR/JPY continued the pattern of changing directions from day to day and whipsawing over-active traders. Clearly, the volatility has been DC-induced, so a resolution on that front should return some sense of normalcy to the EUR/JPY arena.
Technical outlook for EUR/JPY
Technicians say that resistance for the EUR/JPY comes in at Tuesday’s high of 133.82 and is backed up by the 9/19 high of 134.94. Support meanwhile comes in at Tuesday’s low of 132.62 and is followed by the 10/11 low of 132.43.