18 Feb 2014
EUR/JPY is freed from the range
FXStreet (Moscow) - EUR/JPY seems unstoppable as it broke the resistance of 140.00 and keeps on setting new highs; currently the cross is trading at 140.60.
EUR/JPY got its trigger
EUR/JPY is prone to lethargic slumber. The cross has been sitting in a tight range for more than a week but finally it got the trigger needed for the break out. The news that the Bank extended its pro-growth loan schemes pushed the cross through the resistance of 140.00 and to new intraday highs at 140.51. Is this a sort of more QE in disguise? Let’s see whether Kuroda shed some light on this decision during his press conference. His comments may become another source of volatility. In Europe German ZEW economic sentiment is in focus. Worse than expected numbers may trigger the single currency sell-off. The levels to watch: 141.00 on the upside and 140.00 on the downside.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 139.48, with support below at 139.19, 138.65 and 138.36, with resistance above at 140.01, 140.31, and 140.84. Hourly Moving Averages are bullish, with the 200SMA at 139.12 and the daily 20EMA at 139.67. Hourly RSI is neutral at 55.
EUR/JPY got its trigger
EUR/JPY is prone to lethargic slumber. The cross has been sitting in a tight range for more than a week but finally it got the trigger needed for the break out. The news that the Bank extended its pro-growth loan schemes pushed the cross through the resistance of 140.00 and to new intraday highs at 140.51. Is this a sort of more QE in disguise? Let’s see whether Kuroda shed some light on this decision during his press conference. His comments may become another source of volatility. In Europe German ZEW economic sentiment is in focus. Worse than expected numbers may trigger the single currency sell-off. The levels to watch: 141.00 on the upside and 140.00 on the downside.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 139.48, with support below at 139.19, 138.65 and 138.36, with resistance above at 140.01, 140.31, and 140.84. Hourly Moving Averages are bullish, with the 200SMA at 139.12 and the daily 20EMA at 139.67. Hourly RSI is neutral at 55.