11 Apr 2014
EUR/JPY claws back losses
FXStreet (Moscow) - EUR/JPY is back above 141.00 after opening at 140.80 on the back of JPY selling across the board
EUR/JPY is a master of two servants
From the longer term point of view EUR/JPY is consolidating in a broad range, probably, getting ready for a large moves. The cross is a servant of two masters as both euro and yen are demonstrating strong directional movements. On Thursday EUR/JPY pushed off the intraday high of 141.51 and returned to the range below 141.00 to 140.80, but early Asian JPY selling and EUR demand helped the cross to regain ground. The single currency is upside dynamics might be capped by final readings of Germany and Spain CPI inflation, where any downward changes will return us to talks about ECB to take unconventional measures. The initial upside target is seen at yesterday’s high of 141.51, while possible downside correction will be limited by 140.70
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 141.06, with support below at 140.54, 140.08 and 139.56, with resistance above at 141.51, 142.03, and 142.49. Hourly Moving Averages are mostly bullish, with the 200SMA at 141.88 and the daily 20EMA is neutral at 141.47. Hourly RSI is bullish at 56.
EUR/JPY is a master of two servants
From the longer term point of view EUR/JPY is consolidating in a broad range, probably, getting ready for a large moves. The cross is a servant of two masters as both euro and yen are demonstrating strong directional movements. On Thursday EUR/JPY pushed off the intraday high of 141.51 and returned to the range below 141.00 to 140.80, but early Asian JPY selling and EUR demand helped the cross to regain ground. The single currency is upside dynamics might be capped by final readings of Germany and Spain CPI inflation, where any downward changes will return us to talks about ECB to take unconventional measures. The initial upside target is seen at yesterday’s high of 141.51, while possible downside correction will be limited by 140.70
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 141.06, with support below at 140.54, 140.08 and 139.56, with resistance above at 141.51, 142.03, and 142.49. Hourly Moving Averages are mostly bullish, with the 200SMA at 141.88 and the daily 20EMA is neutral at 141.47. Hourly RSI is bullish at 56.