27 Mar 2014
EUR/JPY is recovering from Asian lows of 140.26
FXStreet (Moscow) - EUR/JPY extended losses early on Thursday. The cross dropped to the current lows of 140.26 before recovering to current level of 140.75.
EUR/JPY bulls are scared
EUR/JPY dropped below the key support of 141.00 on Wednesday and thus ended the consolidation pattern of the cross. Now that EUR/JPY is out of the range, the sentiments turned bearish. Geopolitical concerns related to Russia-Ukraine crisis adds the gloom to EUR/JPY perspectives as the Japanese currency is growing on the back of risk aversion. The first bearish target is 140.00, once it is broken, the downside will accelerate to 139.80. The upside is likely to be limited by 140.76/80. The bulls need to get the cross above 141.00 to brighten the technical picture.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 140.89, with support below at 140.24, 139.85 and 139.20, with resistance above at 141.27, 141.92, and 142.31. Hourly Moving Averages are bearish, with the 200SMA at 141.18 and the daily 20EMA at 141.23. Hourly RSI is neutral at 43.
EUR/JPY bulls are scared
EUR/JPY dropped below the key support of 141.00 on Wednesday and thus ended the consolidation pattern of the cross. Now that EUR/JPY is out of the range, the sentiments turned bearish. Geopolitical concerns related to Russia-Ukraine crisis adds the gloom to EUR/JPY perspectives as the Japanese currency is growing on the back of risk aversion. The first bearish target is 140.00, once it is broken, the downside will accelerate to 139.80. The upside is likely to be limited by 140.76/80. The bulls need to get the cross above 141.00 to brighten the technical picture.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 140.89, with support below at 140.24, 139.85 and 139.20, with resistance above at 141.27, 141.92, and 142.31. Hourly Moving Averages are bearish, with the 200SMA at 141.18 and the daily 20EMA at 141.23. Hourly RSI is neutral at 43.