21 Mar 2014
EUR/JPY bears attack the pivotal level of 141.00
FXStreet (Moscow) - EUR/JPY tested area below 141.00 as the cross set the asian low at 140.96, but quickly returned to current levels at 141.03.
EUR/JPY sits in a range
EUR/JPY continued to zig-zag on Thursday as it rejected from the intraday high at 141.77 and finished the day close to the important support area of 141.10/00. Positive and negative days have been alternating the for a week, signaling a great deal of indecision on the market. Asian trading is rather quiet today as the Japanese markets are closed for the Vernal Equinox Day. European traders may bring some excitement as we are waiting for Eurozone Current account numbers and new comments from EU head of states that discuss the Crimea situation and further sanctions against Russia. Threats won’t scare the markets anymore, but real steps to escalate to conflict can do that. In this case EUR/JPY may run lower due to safe-heaven demand for JPY. Though we do not expect any neck-breaking movements into the end of the week. The downside is likely to be limited by 141.00-140.80, while the upside will be capped by 141.40/50.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 141.00, with support below at 140.80, 140.62 and 140.19, with resistance above at 141.30, 141.70, and 142.00.
EUR/JPY sits in a range
EUR/JPY continued to zig-zag on Thursday as it rejected from the intraday high at 141.77 and finished the day close to the important support area of 141.10/00. Positive and negative days have been alternating the for a week, signaling a great deal of indecision on the market. Asian trading is rather quiet today as the Japanese markets are closed for the Vernal Equinox Day. European traders may bring some excitement as we are waiting for Eurozone Current account numbers and new comments from EU head of states that discuss the Crimea situation and further sanctions against Russia. Threats won’t scare the markets anymore, but real steps to escalate to conflict can do that. In this case EUR/JPY may run lower due to safe-heaven demand for JPY. Though we do not expect any neck-breaking movements into the end of the week. The downside is likely to be limited by 141.00-140.80, while the upside will be capped by 141.40/50.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 141.00, with support below at 140.80, 140.62 and 140.19, with resistance above at 141.30, 141.70, and 142.00.