EUR/JPY goes down under bearish attack

EUR/JPY is lethargic close to the opening level of 141.40
FXStreet (Moscow) - EUR/JPY has started a new trading week with a quiet consolidation with downside bias; currently the cross is trading close Asian low at 141.22

EUR/JPY is QE oriented

EUR/JPY dropped below 142.00 support level and ended Friday close to intraday low of 141.52. On weekly basis we have just another doji - the third time running. The cross rejected from the strong resistance area of 143.45-60, just as in early March. The failure was caused by EUR sell-off and enhanced by JPY strength. Today we have a lot of speakers from ECB. Any QE hints will be welcomed by EUR bears. The cross is vulnerable to new losses. Though it is worth mentioning that words (and especially vague ones) are far less potent nowadays. Interest rate futures implies that markets have little doubt that finally, the ECB will have to implement the stimulation measures to stop deflation. So now investors want to know for sure: when and how much. Keep in mind that 141.00 support is rather strong and it may repeal the first bearish assault.

What are today’s key EUR/JPY levels?

Today's central pivot point can be found at 141.85, with support below at 141.06, 140.58 and 149.79, with resistance above at 142.24, 143.13, and 143.61. Hourly Moving Averages are bearish, with the 200SMA at 141.86 and the daily 20EMA is neutral at 141.66. Hourly RSI is bullish at 19.