2 Jun 2014
EUR/JPY bulls gather strength for a new assault at 139.10
FXStreet (Moscow) - EUR/JPY touched the resistance area of 139.10, but failed to break higher and retreated to 139.00.
Is it strong EUR or weak JPY?
EUR/JPY is a slave of two masters this week. On one hand, it will be influenced by risk sentiments and other JPY related factors, on the other hand, ECB meeting and EZ economic reports have a good potential to shape its destiny. Early in Asia the cross staged a spectacular comeback above 139.00 level as the Japanese current weakened across the board on the back of strong Capex numbers and bullish Japanese stock market developments. On the European session don’t miss German inflation data and PMI reports as they may trigger a good deal of EUR volatility. The nearest short-term resistance is seen at 139.10, once it is cleared out, the bulls will set their eyes at 139.50. The support comes at 139.00, it is followed by the Asian low of 138.84
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 138.58, with support below at 138.26, 137.75 and 137.43, with resistance above at 139.08, 139.41, and 139.91. Hourly Moving Averages are bullish with the 200SMA at 138.74 and the daily 20EMA at 139.58. Hourly RSI is bullish at 73.
Is it strong EUR or weak JPY?
EUR/JPY is a slave of two masters this week. On one hand, it will be influenced by risk sentiments and other JPY related factors, on the other hand, ECB meeting and EZ economic reports have a good potential to shape its destiny. Early in Asia the cross staged a spectacular comeback above 139.00 level as the Japanese current weakened across the board on the back of strong Capex numbers and bullish Japanese stock market developments. On the European session don’t miss German inflation data and PMI reports as they may trigger a good deal of EUR volatility. The nearest short-term resistance is seen at 139.10, once it is cleared out, the bulls will set their eyes at 139.50. The support comes at 139.00, it is followed by the Asian low of 138.84
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 138.58, with support below at 138.26, 137.75 and 137.43, with resistance above at 139.08, 139.41, and 139.91. Hourly Moving Averages are bullish with the 200SMA at 138.74 and the daily 20EMA at 139.58. Hourly RSI is bullish at 73.