7 Feb 2014
EUR/JPY has stuck in a tight range; all eyes on NFP
FXStreet (Moscow) - EUR/JPY is squeezed in a very tight range today in Asia as the cross started the day at 138.74 and has hardly managed 20 pips lower so far.
EUR/JPY is consolidating yesterday's gains ahead of NFP
EUR/JPY had a really good day yesterday, as positive EUR dynamic was enhanced by JPY bearish sentiments. It seems that investors found Draghi comments less dovish that they had expected which triggered the EUR rally across the board. The ECB governor is sure that there is no deflation in Eurozone and parallels between Europe and Japan are absolutely irrelevant. Not that the markets were taken in by this story, but the Euro got the required upside momentum. The cross may go on moving higher today, if the single currency is boosted on the back of worse than expected Non-Farm Payrolls data. The closest support comes at the yesterday’s intraday high of 138.83 and followed by 139.00. The stops and offers clustered here may limit the short-term upside. The support lies at 138.00 and followed by 100 DMA at 137.66.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 138.15, with support below at 137.44, 136.05 and 135.34, with resistance above at 139.53, 140.24, and 141.63. Hourly Moving Averages are bullish, with the 200SMA at 138.57 and the daily 20EMA at 139.73. Hourly RSI is neutral at 66.
EUR/JPY is consolidating yesterday's gains ahead of NFP
EUR/JPY had a really good day yesterday, as positive EUR dynamic was enhanced by JPY bearish sentiments. It seems that investors found Draghi comments less dovish that they had expected which triggered the EUR rally across the board. The ECB governor is sure that there is no deflation in Eurozone and parallels between Europe and Japan are absolutely irrelevant. Not that the markets were taken in by this story, but the Euro got the required upside momentum. The cross may go on moving higher today, if the single currency is boosted on the back of worse than expected Non-Farm Payrolls data. The closest support comes at the yesterday’s intraday high of 138.83 and followed by 139.00. The stops and offers clustered here may limit the short-term upside. The support lies at 138.00 and followed by 100 DMA at 137.66.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 138.15, with support below at 137.44, 136.05 and 135.34, with resistance above at 139.53, 140.24, and 141.63. Hourly Moving Averages are bullish, with the 200SMA at 138.57 and the daily 20EMA at 139.73. Hourly RSI is neutral at 66.