23 Oct 2013
EUR/JPY flowing flat around 135.20
FXstreet.com (Chicago) - EUR/JPY extends the sideways movement around the 135.20 zone at Tokyo’s opening on light data releases in Japan.
Expert’s view
According to the FXstreet.com analyst,Valeria Bednarik, the “yen initially gained on the news, but quickly reversed against its rivals, helping EUR/JPY to extend to levels not seen since November 2009, at 153.49. Technical readings in intraday charts show indicators corrective some of the extreme overbought readings reached on Tuesday, although as long as above 134.90, former year high the upside continues to be favored towards 138.20, next strong resistance area.”
EUR/JPY Technical Levels
Technically speaking, the pair extends the sideways movement after yesterday’s spike. Printing slightly higher highs and lows, the pair is offered at 135.23 and oscillates between the supports aligned at 134.94 (September 19th highs), 134.69 (September 22nd highs) ahead of 134.30 (October 18th highs) and the resistances at 135.27 (session highs), 135.50 (October 21st highs) followed by 135.83 (July 19th 2009 highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bearish above the EMA20.
Expert’s view
According to the FXstreet.com analyst,Valeria Bednarik, the “yen initially gained on the news, but quickly reversed against its rivals, helping EUR/JPY to extend to levels not seen since November 2009, at 153.49. Technical readings in intraday charts show indicators corrective some of the extreme overbought readings reached on Tuesday, although as long as above 134.90, former year high the upside continues to be favored towards 138.20, next strong resistance area.”
EUR/JPY Technical Levels
Technically speaking, the pair extends the sideways movement after yesterday’s spike. Printing slightly higher highs and lows, the pair is offered at 135.23 and oscillates between the supports aligned at 134.94 (September 19th highs), 134.69 (September 22nd highs) ahead of 134.30 (October 18th highs) and the resistances at 135.27 (session highs), 135.50 (October 21st highs) followed by 135.83 (July 19th 2009 highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bearish above the EMA20.