19 Nov 2013
EUR/JPY capped?
FXstreet.com (London) - EUR/JPY has broken through the 135.40/52 resistance area which consists of the one month resistance line and the October highs.
However, research teams at TD Securities expect the pair expected to stall. “Please note we continue to believe that the pattern on the chart has potential to be a rising wedge and thus a reversal pattern. For this to be the case, a slip back below the 55 day moving average at 133.21 would need to be seen, though. Should a daily chart close above 135.52 be made, the 137.42/139.62 2009 highs will be back in the picture”.
EUR/JPY Levels
The 20 DMA is 133.94, the 50 DMA is 133.32 and the 200 DMA is 129.44. RSI (14) reads 67.00. The support levels are 133.59, 133.72, 133.96, 134.49 and 134.85. Spot is 135.60 while resistances are 135.52, 135.76, 136.00.
However, research teams at TD Securities expect the pair expected to stall. “Please note we continue to believe that the pattern on the chart has potential to be a rising wedge and thus a reversal pattern. For this to be the case, a slip back below the 55 day moving average at 133.21 would need to be seen, though. Should a daily chart close above 135.52 be made, the 137.42/139.62 2009 highs will be back in the picture”.
EUR/JPY Levels
The 20 DMA is 133.94, the 50 DMA is 133.32 and the 200 DMA is 129.44. RSI (14) reads 67.00. The support levels are 133.59, 133.72, 133.96, 134.49 and 134.85. Spot is 135.60 while resistances are 135.52, 135.76, 136.00.