29 Oct 2013
EUR/JPY, below EMA20; 132.60 zone compromised
FXstreet.com (Chicago) - EUR/JPY heads to the grounds minutes before Tokyo’s opening trading below the EMA20 shortly after the release of job market data in Japan that surprised positively.
Perspective; data
According to FXstreet.com analyst Valeria Bednarik, “Yen weakness extended through this Monday, although the pair was unable to overcome strong static resistance area around 134.90. The hourly chart shows price holding above 100 and 200 SMAs, while indicators stand flat around their midlines. In the 4 hours chart technical readings are a bit more positive, with indicators grinding higher above their midlines: a price acceleration above mentioned 134.90 level, should favor a retest of 135.50 this year high.”
The overall household spending was 3.7% vs. past -1.6% while the unemployment rate was 4% matching expectations. Retail trade was 3.1% vs. past 1.1% and expected 1.9% and large retailer’s sales were 0.7% vs. expected 0.6% and past -0.1%.
EUR/JPY Technical Levels
Technically speaking, the pair is offered at 134.62 and oscillates between the supports aligned at 134.47 (October 25th highs), 134.20 (October 18th highs) ahead of 133.85 (October 24th lows) and the resistances set at 134.79 (October 24th highs), 135.27 (October 23rd highs) followed by 135.50 (October 22nd highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis below the EMA20.
Perspective; data
According to FXstreet.com analyst Valeria Bednarik, “Yen weakness extended through this Monday, although the pair was unable to overcome strong static resistance area around 134.90. The hourly chart shows price holding above 100 and 200 SMAs, while indicators stand flat around their midlines. In the 4 hours chart technical readings are a bit more positive, with indicators grinding higher above their midlines: a price acceleration above mentioned 134.90 level, should favor a retest of 135.50 this year high.”
The overall household spending was 3.7% vs. past -1.6% while the unemployment rate was 4% matching expectations. Retail trade was 3.1% vs. past 1.1% and expected 1.9% and large retailer’s sales were 0.7% vs. expected 0.6% and past -0.1%.
EUR/JPY Technical Levels
Technically speaking, the pair is offered at 134.62 and oscillates between the supports aligned at 134.47 (October 25th highs), 134.20 (October 18th highs) ahead of 133.85 (October 24th lows) and the resistances set at 134.79 (October 24th highs), 135.27 (October 23rd highs) followed by 135.50 (October 22nd highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis below the EMA20.