13 Dec 2013
EUR/JPY extends decline from 2008 high
FXstreet.com (Barcelona) - Having posted a high since 2008 at 142.82 in early hours, EUR/JPY has declined to 142.36 where it is presently trading.
EUR/JPY led by Japanese Exporters hedging efforts
As noted in USD/JPY overnight, Yen weakened significantly overnight off the back of Japanese retail moves and Japanese Exporter Hedging efforts triggering stops. With EUR pairs weakening gradually overnight, this helped EUR/JPY to climb to multi year highs. The economic calendar today for all sessions is light on significance, so fundamental cues are not expected.
What are today’s key EUR/JPY levels and patterns?
Today’s central pivot point sits at 141.76, with resistance above at 142.3963 (R1), 142.7282 (R2) and 143.3613 (R3), and support below at 141.4313 (S1), 140.7982 (S2) and 140.4663 (S3). The range between 142.32-141.98 should offer support with several key technical levels confluent. On the daily chart, a Piercing Line Candlestick pattern can be seen.
EUR/JPY led by Japanese Exporters hedging efforts
As noted in USD/JPY overnight, Yen weakened significantly overnight off the back of Japanese retail moves and Japanese Exporter Hedging efforts triggering stops. With EUR pairs weakening gradually overnight, this helped EUR/JPY to climb to multi year highs. The economic calendar today for all sessions is light on significance, so fundamental cues are not expected.
What are today’s key EUR/JPY levels and patterns?
Today’s central pivot point sits at 141.76, with resistance above at 142.3963 (R1), 142.7282 (R2) and 143.3613 (R3), and support below at 141.4313 (S1), 140.7982 (S2) and 140.4663 (S3). The range between 142.32-141.98 should offer support with several key technical levels confluent. On the daily chart, a Piercing Line Candlestick pattern can be seen.