10 Oct 2013
EUR/JPY at one pip away from 133 weekly highs
FXstreet.com (Chicago) - EUR/JPY soared to 132.99 session highs, 7-day peaks, on republicans’ proposal to end the US shutdown and extend the debt limit. Up 0.90% so far, the pair consolidates above the 132.80 zone.
Rumors run about the potential ending of the shutdown as republicans wait for the democrats’ answer to a proposal that could end the crisis. On earlier comments, Draghi said “the Governing Council has unanimously agreed to incorporate an easing bias that explicitly provides for further rate reductions, should the volatility in money market conditions return to the levels observed in early summer”. Dependant on inflation results, policy rates will be modified overtime.
EUR/JPY Technical Levels
Technically speaking, the pair is offered at 132.82 and navigates between the supports aligned at 132.67 (September 24th lows), 132.22 (October 3rd lows) ahead of 131.83 (October 7th highs) and the resistances set at 133.22 (October 4th highs), 133.51 (September 30th highs) followed by 133.91 (September 26th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20.
Rumors run about the potential ending of the shutdown as republicans wait for the democrats’ answer to a proposal that could end the crisis. On earlier comments, Draghi said “the Governing Council has unanimously agreed to incorporate an easing bias that explicitly provides for further rate reductions, should the volatility in money market conditions return to the levels observed in early summer”. Dependant on inflation results, policy rates will be modified overtime.
EUR/JPY Technical Levels
Technically speaking, the pair is offered at 132.82 and navigates between the supports aligned at 132.67 (September 24th lows), 132.22 (October 3rd lows) ahead of 131.83 (October 7th highs) and the resistances set at 133.22 (October 4th highs), 133.51 (September 30th highs) followed by 133.91 (September 26th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20.