1 Aug 2013
EUR/JPY oscillating around big 130 figure
FXstreet.com (Barcelona) - The EUR/JPY foreign exchange cross rate is currently trading at 130.06, off mid NY session and weekly highs at 130.79, little changed from previous Asia-Pacific open yesterday, slightly lower for the week so far.
EUR/JPY giving not much clues on direction
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, “The hourly chart shows price barely holding above a still bearish 100 SMA while indicators turn lower still above their midlines. In the 4 hours chart the pair presents a neutral stance, giving not much clues on direction. For the short term, the levels to watch are 130.00 to the downside and recent highs around 130.80 to the upside, as only a clear break of either extreme will set the tone of the upcoming sessions, with the downside favored at the time being.”
EUR/JPY key technical levels
Bednarik finds support levels at: 130.00, 129.60, 129.25 and 128.80, while resistance levels at: 130.80, 131.20 and 131.70.
EUR/JPY giving not much clues on direction
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, “The hourly chart shows price barely holding above a still bearish 100 SMA while indicators turn lower still above their midlines. In the 4 hours chart the pair presents a neutral stance, giving not much clues on direction. For the short term, the levels to watch are 130.00 to the downside and recent highs around 130.80 to the upside, as only a clear break of either extreme will set the tone of the upcoming sessions, with the downside favored at the time being.”
EUR/JPY key technical levels
Bednarik finds support levels at: 130.00, 129.60, 129.25 and 128.80, while resistance levels at: 130.80, 131.20 and 131.70.