30 Apr 2014
EUR/JPY deflates from highs
FXStreet (Edinburgh) - After advancing to session highs near 142.20, the EUR/JPY sparked a correction lower to the current area of 141.65/60.
EUR/JPY stronger with euro
Weakness around the JPY post-Kuroda comments leaving the door open for further easing plus upbeat momentun in the EUR have lifted the cross above the 142.00 handle, although the bullish intent run out of legs afterwards. in the meantime, market participants are getting ready for the FOMC statement, with consensus expecting another $10 billion taper in the QE programme. Regarding some technical studies, theFXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is also neutral. Currently RSI is at 43.67, down from the last hourly print at 46.98, with ADX at 31.32, down from its previous close at 33.95.Daily RSI sits at 53.49, in neutral territory.
What price levels and patterns have to be considered?
Current price is 141.58 or -0.08%, with resistance ahead at 141.63 (Hourly 200 SMA), 141.66 (Hourly 100 SMA), 141.70 (Hourly 20 EMA),141.79 (Daily Open) and 141.92 (Weekly Classic R1). Next support to the downside can be found at 141.59 (Yesterday's Low), 141.50 (Daily 20 SMA), 141.48 (Weekly Classic PP), 141.40 (Daily Classic S1) and 141.37 (Weekly Low).
EUR/JPY stronger with euro
Weakness around the JPY post-Kuroda comments leaving the door open for further easing plus upbeat momentun in the EUR have lifted the cross above the 142.00 handle, although the bullish intent run out of legs afterwards. in the meantime, market participants are getting ready for the FOMC statement, with consensus expecting another $10 billion taper in the QE programme. Regarding some technical studies, theFXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is also neutral. Currently RSI is at 43.67, down from the last hourly print at 46.98, with ADX at 31.32, down from its previous close at 33.95.Daily RSI sits at 53.49, in neutral territory.
What price levels and patterns have to be considered?
Current price is 141.58 or -0.08%, with resistance ahead at 141.63 (Hourly 200 SMA), 141.66 (Hourly 100 SMA), 141.70 (Hourly 20 EMA),141.79 (Daily Open) and 141.92 (Weekly Classic R1). Next support to the downside can be found at 141.59 (Yesterday's Low), 141.50 (Daily 20 SMA), 141.48 (Weekly Classic PP), 141.40 (Daily Classic S1) and 141.37 (Weekly Low).