24 Jul 2014
EUR/JPY bears has woken up, 136.50 is under threat
FXStreet (Moscow) - EUR/JPY jerked lower in Asia, but stuck at local support of 136.60; let’s hope European traders will breathe in life in the cross
EUR/JPY has taken a pause
EUR/JPY dipped to new multi-months lows at 136.39 yesterday, but finished day nearly unchanged. EUR bears need some rest before they continue with their downside assault. From the fundamental point of view, Eurozone flash PMI reports will be in focus as investors often use them as an early guide on European economy health. No meaningful change from June data is expected, thus deviations from forecasts might trigger some volatility in EUR crosses. Negative surprise could push the cross to Wednesday’s low at 136.39. Once this level is broken, this year low of 136.21 will come into sight. The upside correction is likely to be limited by 137.00.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 136.60, with support below at 136.41, 136.19 and 136.00, with resistance above at 136.82, 137.23, and 137.92. Hourly Moving Averages are bearish with the 200SMA bearish at 137.36 and the daily 20EMA bearish at 137.79. Hourly RSI is bearish at 47.
EUR/JPY has taken a pause
EUR/JPY dipped to new multi-months lows at 136.39 yesterday, but finished day nearly unchanged. EUR bears need some rest before they continue with their downside assault. From the fundamental point of view, Eurozone flash PMI reports will be in focus as investors often use them as an early guide on European economy health. No meaningful change from June data is expected, thus deviations from forecasts might trigger some volatility in EUR crosses. Negative surprise could push the cross to Wednesday’s low at 136.39. Once this level is broken, this year low of 136.21 will come into sight. The upside correction is likely to be limited by 137.00.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 136.60, with support below at 136.41, 136.19 and 136.00, with resistance above at 136.82, 137.23, and 137.92. Hourly Moving Averages are bearish with the 200SMA bearish at 137.36 and the daily 20EMA bearish at 137.79. Hourly RSI is bearish at 47.