13 Feb 2014
EUR/JPY is indecisive, consolidating close to the support of 139.00
FXStreet (Moscow) - EUR/JPY is consolidating in a pretty narrow range with a light bearish hue in Asia as the cross opened at 139.28 and moved to current levels at 139.18 after touching the Asian high at 139.44.
EUR/JPY needs time to think things over
EUR/JPY yielded to general anti-euro sentiments and dropped substantially. The cross returned to the range below 140.00, while the intraday low was set at shocking 138.66. Coeure from ECB was to blame as he dwelled upon negative deposit rates in Europe and scared traders out of their wits. But the reaction was exaggerated and the cross managed to reverse some losses. We have nothing interesting in Europe except ECB monthly bulletin that is unlikely to contain anything new to us. Thus the cross will be influenced by general euro-sentiments and technical factors. The longer term bias remains negative as long as we stay below 142.00. On the intraday basis watch out for 139.42 (1h 50 EMA) once it is broken, 140.00 will come into sight. On the downside the support is seen at 139.00 фтв followed by 138.80
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 139.36, with support below at 138.64, 137.95 and 138.23, with resistance above at 140.04, 140.76, and 141.44. Hourly Moving Averages are mostly bearish, with the 200SMA at 138.34 and the daily 20EMA at 139.68. Hourly RSI is neutral at 44.
EUR/JPY needs time to think things over
EUR/JPY yielded to general anti-euro sentiments and dropped substantially. The cross returned to the range below 140.00, while the intraday low was set at shocking 138.66. Coeure from ECB was to blame as he dwelled upon negative deposit rates in Europe and scared traders out of their wits. But the reaction was exaggerated and the cross managed to reverse some losses. We have nothing interesting in Europe except ECB monthly bulletin that is unlikely to contain anything new to us. Thus the cross will be influenced by general euro-sentiments and technical factors. The longer term bias remains negative as long as we stay below 142.00. On the intraday basis watch out for 139.42 (1h 50 EMA) once it is broken, 140.00 will come into sight. On the downside the support is seen at 139.00 фтв followed by 138.80
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 139.36, with support below at 138.64, 137.95 and 138.23, with resistance above at 140.04, 140.76, and 141.44. Hourly Moving Averages are mostly bearish, with the 200SMA at 138.34 and the daily 20EMA at 139.68. Hourly RSI is neutral at 44.