24 Mar 2014
EUR/JPY following stocks lower after 142 rejection
FXStreet (Barcelona) - EUR/JPY is down -0.18% on the day at 140.82, having previously posted a daily high at 141.92 and a low at 140.71
Jamie Coleman of FXBeat comments EUR/JPY is being dragged lower by stocks and that that it is pretty much one-way traffic for US equities this morning.”They opened firm but have been on the defensive ever since. EUR/JPY has fallen back to the 140.70 level, eyeing support at 140.40. USD/JPY support is firm in the 102.00/10 area.”
EUR/JPY technicals
According to hourly FXStreet proprietary tools the OB/OS Index and Trend Index, the pair is oversold and slightly bearish respectively. RSI is in neutral territory at 34.48, down from it’s last hourly close at 38.25, while ADX is ranging above 30 at 26.77, up from 19.15 at the last
hourly close. RSI is neutral at 49.69, according to the daily chart.
A declining 200 SMA on the hourly EUR/JPY chart is currently at 141.13, down from 141.56 at the previous close. On average, the exponential closing price for the past 20 days is 141.26, with the trend indicating a range bound movement ahead. Today's central pivot point can be found at 140.95, with support below at 140.57, 140.06 and 139.68, with resistance above at 141.46, 141.84, and 142.36.
Jamie Coleman of FXBeat comments EUR/JPY is being dragged lower by stocks and that that it is pretty much one-way traffic for US equities this morning.”They opened firm but have been on the defensive ever since. EUR/JPY has fallen back to the 140.70 level, eyeing support at 140.40. USD/JPY support is firm in the 102.00/10 area.”
EUR/JPY technicals
According to hourly FXStreet proprietary tools the OB/OS Index and Trend Index, the pair is oversold and slightly bearish respectively. RSI is in neutral territory at 34.48, down from it’s last hourly close at 38.25, while ADX is ranging above 30 at 26.77, up from 19.15 at the last
hourly close. RSI is neutral at 49.69, according to the daily chart.
A declining 200 SMA on the hourly EUR/JPY chart is currently at 141.13, down from 141.56 at the previous close. On average, the exponential closing price for the past 20 days is 141.26, with the trend indicating a range bound movement ahead. Today's central pivot point can be found at 140.95, with support below at 140.57, 140.06 and 139.68, with resistance above at 141.46, 141.84, and 142.36.