25 Oct 2013
EUR/JPY flirts with 134.30 ceilings
FXstreet.com (Chicago) - EUR/JPY finds grounds after fall on disappointing Euro-zone data published on early Thursday ahead of Japanese facts release within hours and Tokyo’s opening.
Strong euro momentum
Japan and market participants expect data in the country highlighting the national consumer price index, national CPI ex food, energy results and the Tokyo CPIs series. In Europe, results were disappointing with Markit facts below expectations.
EUR/JPY Technical Levels
Technically speaking, the pair approaches immediate limits and is traded at 134.27 navigating between supports aligned at 133.94 (September 25th highs), 133.57 (October 18th lows) followed by 133 (October 14th lows) and the resistances set at 134.30 (September 21st highs), 134.69 (September 20th highs) ahead of 135 (September 19th highs).
Valeria Bednarik from FXstreet.com states “whereas the pair trades intraday unchanged, yen strength prevails over EUR one, with the daily chart showing a long upper shadow that reflects the selling interest on spikes higher. As for the short term, the hourly chart shows price breaking below its 100 SMA and indicators below their midlines, pointing for a downside continuation over the upcoming hours, probably on a break of 134.00 static support.”
Strong euro momentum
Japan and market participants expect data in the country highlighting the national consumer price index, national CPI ex food, energy results and the Tokyo CPIs series. In Europe, results were disappointing with Markit facts below expectations.
EUR/JPY Technical Levels
Technically speaking, the pair approaches immediate limits and is traded at 134.27 navigating between supports aligned at 133.94 (September 25th highs), 133.57 (October 18th lows) followed by 133 (October 14th lows) and the resistances set at 134.30 (September 21st highs), 134.69 (September 20th highs) ahead of 135 (September 19th highs).
Valeria Bednarik from FXstreet.com states “whereas the pair trades intraday unchanged, yen strength prevails over EUR one, with the daily chart showing a long upper shadow that reflects the selling interest on spikes higher. As for the short term, the hourly chart shows price breaking below its 100 SMA and indicators below their midlines, pointing for a downside continuation over the upcoming hours, probably on a break of 134.00 static support.”