29 Apr 2015
EUR/JPY bids faltering ahead of Tokyo open
FXStreet (Guatemala) - EUR/JPY is currently trading at 130.37 with a high of 130.55 and a low of 130.34.
EUR/JPY has been bid overnight on the back of a mix of poor US data and continued supply in the greenback amongst optimism that Greece will not default on the Greek Debt or be forced out of the EU after Greek PM Tsipras came to the table yesterday with positive intentions for reform in a timely manner.
Technically, the cross is position back below over bought territory but remains heavy ahead of the Tokyo open. RSI (14) offers further room to the upside for bulls to reengage with the pair although while below 131.30 and 131.52 and the March 18 high at 131.67 and the February low at 132.00 resistance, the broader technical theme is bearish.
EUR/JPY has been bid overnight on the back of a mix of poor US data and continued supply in the greenback amongst optimism that Greece will not default on the Greek Debt or be forced out of the EU after Greek PM Tsipras came to the table yesterday with positive intentions for reform in a timely manner.
Technically, the cross is position back below over bought territory but remains heavy ahead of the Tokyo open. RSI (14) offers further room to the upside for bulls to reengage with the pair although while below 131.30 and 131.52 and the March 18 high at 131.67 and the February low at 132.00 resistance, the broader technical theme is bearish.