8 Apr 2014
EUR/JPY under pressure after recovering from intraday low of 141.21
FXStreet (Moscow) - EUR/JPY dipped to current lows of 141.21 after opening at 141.68, but the downside movement was not sustained and the cross recovered to 141.45.
EUR/JPY is unaffected by BOJ decision
EUR/JPY managed to finish Monday in the green zone (though gains were only marginal) despite JPY strengthening agains US Dollar. That’s because the single currency was on the upside move due to insufficiently dovish comments from ECB officials. Early in Asia the cross dropped to the current lows at 141.21 as the Japanese currency was in demand ahead of BOJ meeting. Markets expected no change in monetary policy this time and the regulator did not let them down. As there are no major events scheduled for the European session the cross may consolidate within a broad range where the downside will be limited by 141.00, and the upside is capped by yesterday’s high at 141.90.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 141.57, with support below at 141.23, 140.78 and 140.43, with resistance above at 142.02, 142.37, and 142.82. Hourly Moving Averages are bearish, with the 200SMA at 141.89 and the daily 20EMA is neutral at 141.66. Hourly RSI is bearish at 37.
EUR/JPY is unaffected by BOJ decision
EUR/JPY managed to finish Monday in the green zone (though gains were only marginal) despite JPY strengthening agains US Dollar. That’s because the single currency was on the upside move due to insufficiently dovish comments from ECB officials. Early in Asia the cross dropped to the current lows at 141.21 as the Japanese currency was in demand ahead of BOJ meeting. Markets expected no change in monetary policy this time and the regulator did not let them down. As there are no major events scheduled for the European session the cross may consolidate within a broad range where the downside will be limited by 141.00, and the upside is capped by yesterday’s high at 141.90.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 141.57, with support below at 141.23, 140.78 and 140.43, with resistance above at 142.02, 142.37, and 142.82. Hourly Moving Averages are bearish, with the 200SMA at 141.89 and the daily 20EMA is neutral at 141.66. Hourly RSI is bearish at 37.