13 Nov 2013
EUR/JPY on corrective wave above 133.80
FXstreet.com (Chicago) - EUR/JPY trades around 2-week highs cruising after the closing of Wall Street and expectant of the opening of the Asian equity markets.
Earlier in Germany, weak results were made public evidencing the interest rate cut might have been not so surprising after all. In Japan, monetary orders are due at 23:50.
EUR/JPY Technical Levels
Technically speaking, the pair is offered at 133.84 oscillating between the supports aligned at 133.74 (November 6th highs), 133.31 (November 4th highs) ahead of 132.79 (November 3rd lows) and the resistances set at 134.24 (October 29th lows), 134.78 (October 23rd highs) followed by 135.44 (October 30th highs). The upward trendline that originated last November 7th remains intact and the pair manages to sustain the 2-week highs despite horizontal corrective movement ahead of Tokyo’s opening.
Earlier in Germany, weak results were made public evidencing the interest rate cut might have been not so surprising after all. In Japan, monetary orders are due at 23:50.
EUR/JPY Technical Levels
Technically speaking, the pair is offered at 133.84 oscillating between the supports aligned at 133.74 (November 6th highs), 133.31 (November 4th highs) ahead of 132.79 (November 3rd lows) and the resistances set at 134.24 (October 29th lows), 134.78 (October 23rd highs) followed by 135.44 (October 30th highs). The upward trendline that originated last November 7th remains intact and the pair manages to sustain the 2-week highs despite horizontal corrective movement ahead of Tokyo’s opening.