20 Aug 2013
EUR/JPY testing support 130.40
FXstreet.com (Barcelona) - EUR/JPY is printing a high for today 130.80 region but has moved lower to test the support from Friday (Asia) resistance to 130.40.
EUR/JPY is a mixed bag, in a dollar friendly environment as stock markets have been hit while investors are looking for fixed income safe haven play’s, and Yen was also fairing well in a nervous arena, taking the pair to weekly lows 129.40 on the Asia European handover falling from 131.00 territory in NA yesterday. The latest FOMC minutes from the US will be released on Wednesday evening and could shed some light on September tapering that will no doubt spark some action throughout the majors.
EUR/JPY mixed
EUR/JPY is mixed but there is a downside bias overall and broadly speaking with analysts at Commerzbank saying, “In case of a fall through 129.38 being seen, the current 127.97 August low will be eyed and, if slipped through, should see follow through losses to 126.57, the June 26 low. This is regarded as the last defence for the 124.94 June low which is our downside target for the weeks to come” – Alex Rudolph, Senior Technical Analyst. EUR/JPY arrives with the 20 dma 130.20, 50 dma is 129.62 and the 200 dma is 123.39. RSI (14) is 54.8 while supports are ascending from 129.13, 129.39, 129.60, 129.87. Spot is currently 130.20 and resistances are 131.10, 131.55, 131.77 and 131.97.
EUR/JPY is a mixed bag, in a dollar friendly environment as stock markets have been hit while investors are looking for fixed income safe haven play’s, and Yen was also fairing well in a nervous arena, taking the pair to weekly lows 129.40 on the Asia European handover falling from 131.00 territory in NA yesterday. The latest FOMC minutes from the US will be released on Wednesday evening and could shed some light on September tapering that will no doubt spark some action throughout the majors.
EUR/JPY mixed
EUR/JPY is mixed but there is a downside bias overall and broadly speaking with analysts at Commerzbank saying, “In case of a fall through 129.38 being seen, the current 127.97 August low will be eyed and, if slipped through, should see follow through losses to 126.57, the June 26 low. This is regarded as the last defence for the 124.94 June low which is our downside target for the weeks to come” – Alex Rudolph, Senior Technical Analyst. EUR/JPY arrives with the 20 dma 130.20, 50 dma is 129.62 and the 200 dma is 123.39. RSI (14) is 54.8 while supports are ascending from 129.13, 129.39, 129.60, 129.87. Spot is currently 130.20 and resistances are 131.10, 131.55, 131.77 and 131.97.