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1 Aug 2014
EUR/JPY stopped short at 137.80 resistance; triggers are wanted
FXStreet (Moscow) - EUR/JPY has frozen to the opening level of 137.75, intraday movements are limited by depressing 11-pips range
Indecision is the word
EUR/JPY is not much of a mover a lately. Having reached the resistance area of 137.80/90, the cross entered into consolidation phase as markets are getting ready for US Non Farm Payrolls report notorious for wild currency swings. Risk sentiments have deteriorated lately as Argentina debt problems coupled with Portugal BES saga and more sanctions for Russian economy made investors wary of buying EUR in crosses and supported EUR/JPY despite JPY weakening against USD. From the technical point of view the key levels to watch are 137.80/90 on the upside and 137.50 on the downside
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 137.68, with support below at 137.48, 137.31 and 137.11, with resistance above at 138.85, 139.05, and 139.22. Hourly Moving Averages are mixed with the 200SMA bullish at 137.03 and the daily 20EMA flat at 137.53. Hourly RSI is bullish at 64.
Indecision is the word
EUR/JPY is not much of a mover a lately. Having reached the resistance area of 137.80/90, the cross entered into consolidation phase as markets are getting ready for US Non Farm Payrolls report notorious for wild currency swings. Risk sentiments have deteriorated lately as Argentina debt problems coupled with Portugal BES saga and more sanctions for Russian economy made investors wary of buying EUR in crosses and supported EUR/JPY despite JPY weakening against USD. From the technical point of view the key levels to watch are 137.80/90 on the upside and 137.50 on the downside
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 137.68, with support below at 137.48, 137.31 and 137.11, with resistance above at 138.85, 139.05, and 139.22. Hourly Moving Averages are mixed with the 200SMA bullish at 137.03 and the daily 20EMA flat at 137.53. Hourly RSI is bullish at 64.