11 Jul 2014
EUR/JPY bears are eager to resume the downside
FXStreet (Moscow) - EUR/JPY has recovered from the intraday low and settled close to the opening level of 138.86; trading activity is low ahead of European open.
EUR/JPY bulls are licking wounds
EUR/JPY was a big loser yesterday, as the pair dipped to 137.48 after opening at 138.60 - more than 100 pips of decline, explained by sudden problems with Portuguese banks that dampened EUR across the board and caused rush to safety on the markets. Later during the dat the cross is expected to consolidate its losses. Some healthy profit-taking before the end of the week is possible, though it is unlikely to take the cross above 138,00 resistance. From the fundamental point of view, German inflation data may be of interest, though this report have a market moving potential only in case of substantial deviations from the forecasts (no change is expected: 0.3% m/m, 1.0% y/y).
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 138.04, with support below at 137.37, 136.83 and 136.16, with resistance above at 138.58, 139.25, and 139.79. Hourly Moving Averages are mixed with the 200SMA at 138.63 and the daily 20EMA at 138.66. Hourly RSI is bearish at 41.
EUR/JPY bulls are licking wounds
EUR/JPY was a big loser yesterday, as the pair dipped to 137.48 after opening at 138.60 - more than 100 pips of decline, explained by sudden problems with Portuguese banks that dampened EUR across the board and caused rush to safety on the markets. Later during the dat the cross is expected to consolidate its losses. Some healthy profit-taking before the end of the week is possible, though it is unlikely to take the cross above 138,00 resistance. From the fundamental point of view, German inflation data may be of interest, though this report have a market moving potential only in case of substantial deviations from the forecasts (no change is expected: 0.3% m/m, 1.0% y/y).
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 138.04, with support below at 137.37, 136.83 and 136.16, with resistance above at 138.58, 139.25, and 139.79. Hourly Moving Averages are mixed with the 200SMA at 138.63 and the daily 20EMA at 138.66. Hourly RSI is bearish at 41.