24 Mar 2014
EUR/JPY remains sideways above 140.50
FXStreet (Córdoba) - The EUR/JPY is about to finish Monday with a moderate gain and trading near daily highs. During the European session price peaked at 141.87 but then turned to the downside and fell, bottoming at 140.72 at the beginning of the American session.
The Euro soared in the market on New York pushing the EUR/JPY to the upside. After erasing losses the EUR/JPY approached daily highs but found resistance at 141.75 and pulled back to 141.40.
EUR/JPY remains sideways
Since March 13 the EUR/JPY is moving sideways, with a strong resistance below 142.00 and support above 140.50. A consolidation above 142.00 would suggest a bullish continuation while below 140.50 the retracement from 143.80 could be extended, exposing 140.00.
The Euro soared in the market on New York pushing the EUR/JPY to the upside. After erasing losses the EUR/JPY approached daily highs but found resistance at 141.75 and pulled back to 141.40.
EUR/JPY remains sideways
Since March 13 the EUR/JPY is moving sideways, with a strong resistance below 142.00 and support above 140.50. A consolidation above 142.00 would suggest a bullish continuation while below 140.50 the retracement from 143.80 could be extended, exposing 140.00.