28 Apr 2015
EUR/JPY: supported by 50-DMA
FXStreet (Mumbai) - The EUR/JPY pair remains well supported by the 50-DMA located at 129.53 as the markets cheer the reshuffling of the Greek debt negotiations by bidding EUR higher.
EUR/JPY: Stuck between 5-WMA and 10-WMA
The pair is being restricted within the range of 129.03 (5-WMA) and 129.87 (10-DMA), amid disappearing threat of Greek default and broad based USD weakness ahead of the US Fed policy statement due for release tomorrow. Meanwhile, the gains have been capped around 129.87 as the jittery European stocks supported Yen.
EUR/JPY Technical Levels
The immediate resistance is located at 130.10, above which gains could be extended to 130.90-131.00. On the flip side, a break below 129.53 (50-DMA), could drive the pair lower to 129.34 (5-DMA).
EUR/JPY: Stuck between 5-WMA and 10-WMA
The pair is being restricted within the range of 129.03 (5-WMA) and 129.87 (10-DMA), amid disappearing threat of Greek default and broad based USD weakness ahead of the US Fed policy statement due for release tomorrow. Meanwhile, the gains have been capped around 129.87 as the jittery European stocks supported Yen.
EUR/JPY Technical Levels
The immediate resistance is located at 130.10, above which gains could be extended to 130.90-131.00. On the flip side, a break below 129.53 (50-DMA), could drive the pair lower to 129.34 (5-DMA).