18 Aug 2015
EUR/JPY downside playing out
FXStreet (Guatemala) - EUR/JPY is currently trading at 137.15 with a high of 137.90 and a low of 137.06.
EUR/JPY remains with a heavy bias and has been losing the 138 handle today and threatens the 137 handle with targets set at 136.80. The euro has been sliding forcing the cross lower and the bullish opening gap of the 12th August has been closed with 1.0980 in its sights. USD/JPY remains supported and is trading along a slight ascending trending line of support from the downtrend of 125.20's bottom at 123.78 with 124 and 124.20 supporting. For the week we are awaiting the BoJ's interest rate decision while the majority of the leg work will remain with the greenback in CPI's and FOMC minutes.
EUR/JPY levels
The 200 day moving average at 136.91 is now the next major support. Karen Jones, chief analyst at Commerzbank explain, "Only an unexpected slip below the 135.00 level would open up the possibility of a slide to key support at 133.30/10, the lows seen since May, unfolding."
EUR/JPY remains with a heavy bias and has been losing the 138 handle today and threatens the 137 handle with targets set at 136.80. The euro has been sliding forcing the cross lower and the bullish opening gap of the 12th August has been closed with 1.0980 in its sights. USD/JPY remains supported and is trading along a slight ascending trending line of support from the downtrend of 125.20's bottom at 123.78 with 124 and 124.20 supporting. For the week we are awaiting the BoJ's interest rate decision while the majority of the leg work will remain with the greenback in CPI's and FOMC minutes.
EUR/JPY levels
The 200 day moving average at 136.91 is now the next major support. Karen Jones, chief analyst at Commerzbank explain, "Only an unexpected slip below the 135.00 level would open up the possibility of a slide to key support at 133.30/10, the lows seen since May, unfolding."