14 Jul 2014
EUR/JPY technical offering mixed signals
FXStreet (Guatemala) - EUR/JPY is trading at 138.34, up 0.36% on the day, having posted a daily high at 138.48 and low at 137.82.
Valeria Bednarik, chief analyst at FXStreet explained that the Yen gave back most of the ground added late past week as stocks advanced and noted that all American indexes advanced strongly albeit Dow Jones fresh high took center stage, helping EUR/JPY returning 138.40 price zone. “The pair however, halted around the strong static resistance, and the hourly chart shows price was also rejected from its 200 SMA, while indicators correct their overbought readings. In the 4 hours chart however, technical readings maintain the positive tone, with a break above mentioned resistance probably signaling a continuation towards 138.90 price zone”.
EUR/JPY Levels
With spot trading at 138.35, we can see next resistance ahead at 138.46 (Daily Classic R3), 138.47 (Hourly 200 SMA), 138.48 (Daily High), 138.59 (Daily 20 SMA) and 138.63 (Weekly Classic R1). Support below can be found at 138.27 (Daily Classic R2), 138.20 (Hourly 20 EMA), 138.15 (Hourly 100 SMA), 138.08 (Yesterday's High) and 138.06 (Weekly Classic PP).
Valeria Bednarik, chief analyst at FXStreet explained that the Yen gave back most of the ground added late past week as stocks advanced and noted that all American indexes advanced strongly albeit Dow Jones fresh high took center stage, helping EUR/JPY returning 138.40 price zone. “The pair however, halted around the strong static resistance, and the hourly chart shows price was also rejected from its 200 SMA, while indicators correct their overbought readings. In the 4 hours chart however, technical readings maintain the positive tone, with a break above mentioned resistance probably signaling a continuation towards 138.90 price zone”.
EUR/JPY Levels
With spot trading at 138.35, we can see next resistance ahead at 138.46 (Daily Classic R3), 138.47 (Hourly 200 SMA), 138.48 (Daily High), 138.59 (Daily 20 SMA) and 138.63 (Weekly Classic R1). Support below can be found at 138.27 (Daily Classic R2), 138.20 (Hourly 20 EMA), 138.15 (Hourly 100 SMA), 138.08 (Yesterday's High) and 138.06 (Weekly Classic PP).