9 Apr 2014
EUR/JPY is knocking at 140.70 resistance
FXStreet (Moscow) - EUR/JPY recovered to the resistance of 140.70 after opening at 140.30.
It’s all about Yen
EUR/JPY touched the low of 140.00 on Tuesday, but recovered to 140.30 by the end of the trading day. The cross movements were influenced by JPY buying against US Dollar, and euro rally could not stop it from falling. EUR/JPY lost more than 100 pips during the single trading day, but the longer-term picture will turn bearish only after a sustained break below 140.00. The cross is trying to develop the upside correction in Asia, though it is limited until 140.70 is intact. From the fundamental point of view don’t miss trade balance figures from Germany, as they will reveal whether the German trade position is eroded by strong euro.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 140.76, with support below at 139.78, 139.10 and 138.11, with resistance above at 141.44, 142.43, and 143.11. Hourly Moving Averages are bearish, with the 200SMA at 141.91 and the daily 20EMA is neutral at 141.55. Hourly RSI is bearish at 31.
It’s all about Yen
EUR/JPY touched the low of 140.00 on Tuesday, but recovered to 140.30 by the end of the trading day. The cross movements were influenced by JPY buying against US Dollar, and euro rally could not stop it from falling. EUR/JPY lost more than 100 pips during the single trading day, but the longer-term picture will turn bearish only after a sustained break below 140.00. The cross is trying to develop the upside correction in Asia, though it is limited until 140.70 is intact. From the fundamental point of view don’t miss trade balance figures from Germany, as they will reveal whether the German trade position is eroded by strong euro.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 140.76, with support below at 139.78, 139.10 and 138.11, with resistance above at 141.44, 142.43, and 143.11. Hourly Moving Averages are bearish, with the 200SMA at 141.91 and the daily 20EMA is neutral at 141.55. Hourly RSI is bearish at 31.