18 Nov 2013
EUR/JPY climbs off 1hr 50 SMA support
FXstreet.com (Barcelona) - Having declined into the overnight session from a high of 1.35.35, to post a morning a low of 134.79, EUR/JPY is presently trading at 135.14, down -0.03% on the days trading.
EUR/JPY finds support after JPY lead by USD weakness
As explained by Matt Bacon-Hall of FXBeat earlier, the VIX is at historic lows today, indicating complacency in the market, and by virtue, strength in risk sentiment and dollar weakness. This saw JPY strength, with USD/JPY dropping below the psychological 100.00 level. EUR/JPY followed suit, but found support at the 1 hour 50 SMA, before edging higher to approach its morning high.
What are today’s key EUR/JPY levels and patterns?
Today’s pivot point can be found at 134.98, with support below at 134.69 (S1), 134.20 (S2), and 133.91 (S3), and resistance above at 135.48 (R1), 135.77 (R2), 136.27 (R3). The range between 135.13 and 135.47 should be paid attention too as many key technical levels are clustered here. Looking to candlestick patterns, a Piercing Line, and an Engulfing Bearish formation can be both seen on the weekly chart.
EUR/JPY finds support after JPY lead by USD weakness
As explained by Matt Bacon-Hall of FXBeat earlier, the VIX is at historic lows today, indicating complacency in the market, and by virtue, strength in risk sentiment and dollar weakness. This saw JPY strength, with USD/JPY dropping below the psychological 100.00 level. EUR/JPY followed suit, but found support at the 1 hour 50 SMA, before edging higher to approach its morning high.
What are today’s key EUR/JPY levels and patterns?
Today’s pivot point can be found at 134.98, with support below at 134.69 (S1), 134.20 (S2), and 133.91 (S3), and resistance above at 135.48 (R1), 135.77 (R2), 136.27 (R3). The range between 135.13 and 135.47 should be paid attention too as many key technical levels are clustered here. Looking to candlestick patterns, a Piercing Line, and an Engulfing Bearish formation can be both seen on the weekly chart.