22 May 2015
EUR/JPY: Bears comfortable for now
FXStreet (Guatemala) - EUR/JPY is currently trading at 134.46 with a high of 134.57 and a low of 134.41.
EUR/JPY has made a series of higher lows with a top score overnight of 135.33, trading out of sight of this week's low of 133.91. The euro has been mixed in to the closing sessions with lackluster performances in service and manufacturing data in the euro bloc nations while the greenback has been laid off on the back of its own nations poor data. Yellen will be key tomorrow and given the series of continued poor data, it will be telling whether she emphasises on this tonight in the US session.
The stocks finished higher in the US at record numbers yet in the S&P 500 again and leaves the Yen exposed to downside pressures while we are braced for the Bank of Japan monetary policy and BoJ press conference. Nevertheless, the markets are not pricing in any surprises or shifts from the status quo at the Central Bank. However, the change in energy prices may be a subject to note and the impacts that these are continuing to have on the economy in respect to the Bank's assessment of the underlying inflation trend.
Technically, the MA's are signally a bearish bias on the hourly chart while below the EMA 200 at 134.99. However, key resistance remains 136.11 at the 200 DMA on the daily sticks and ahead of 136.70/137.25 being the February high.
EUR/JPY has made a series of higher lows with a top score overnight of 135.33, trading out of sight of this week's low of 133.91. The euro has been mixed in to the closing sessions with lackluster performances in service and manufacturing data in the euro bloc nations while the greenback has been laid off on the back of its own nations poor data. Yellen will be key tomorrow and given the series of continued poor data, it will be telling whether she emphasises on this tonight in the US session.
The stocks finished higher in the US at record numbers yet in the S&P 500 again and leaves the Yen exposed to downside pressures while we are braced for the Bank of Japan monetary policy and BoJ press conference. Nevertheless, the markets are not pricing in any surprises or shifts from the status quo at the Central Bank. However, the change in energy prices may be a subject to note and the impacts that these are continuing to have on the economy in respect to the Bank's assessment of the underlying inflation trend.
Technically, the MA's are signally a bearish bias on the hourly chart while below the EMA 200 at 134.99. However, key resistance remains 136.11 at the 200 DMA on the daily sticks and ahead of 136.70/137.25 being the February high.