21 Jan 2014
EUR/JPY bulls seem unstoppable as they drive cross to 141.80
FXstreet.com (Moscow) - EUR/JPY has already gained about 50 pips after opening at 141.29 and the bulls are still pushing the cross higher
Be careful with EUR/JPY as BoJ may spoil the game
EUR/JPY briefly tested the waters below 141.00 level yesterday, but the move proved to be unsustainable, as the cross new buyers emerged at lows. Today the Japanese stock market development pushed EUR/JPY from yesterday’s narrow range. The cross flirts with the resistance level of 141.80 and once it is broken 142.00 will be in sight. German ZEW published today during European hours may lend the single currency a short-term support across the board. Though keep in mind that the Bank of Japan’s monetary policy decision is due tomorrow. This is an important risk event that may restrain the upside in the Yen crosses today.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 141.01, with support below at 140.65, 139.94 and 139.56, with resistance above at 141.73, 142.11, and 142.82. Hourly Moving Averages are mixed, with the 200SMA at 141.94 and the daily 20EMA at 142.05. Hourly RSI is neutral at 68.62.
Be careful with EUR/JPY as BoJ may spoil the game
EUR/JPY briefly tested the waters below 141.00 level yesterday, but the move proved to be unsustainable, as the cross new buyers emerged at lows. Today the Japanese stock market development pushed EUR/JPY from yesterday’s narrow range. The cross flirts with the resistance level of 141.80 and once it is broken 142.00 will be in sight. German ZEW published today during European hours may lend the single currency a short-term support across the board. Though keep in mind that the Bank of Japan’s monetary policy decision is due tomorrow. This is an important risk event that may restrain the upside in the Yen crosses today.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 141.01, with support below at 140.65, 139.94 and 139.56, with resistance above at 141.73, 142.11, and 142.82. Hourly Moving Averages are mixed, with the 200SMA at 141.94 and the daily 20EMA at 142.05. Hourly RSI is neutral at 68.62.