2 May 2014
EUR/JPY struggling at 142.00
FXStreet (Córdoba) - The EUR/JPY has risen to test once again the 142.00 mark Friday European session, but continues to lack momentum to break decisively above that level.
The EUR/JPY advanced slightly throughout the day and reached a high of 142.03 before losing momentum. At time of writing, the pair is trading at the 142.00 area, just a few pips above its opening price.
In the macroeconomic domain, Eurozone data includes de Markit manufacturing PMI and the unemployment rate, but traders might be unwilling to make big moves ahead of the US nonfarm payrolls. Next week, the ECB will meet to decide on monetary policy, with expectations of another on-hold month growing.
EUR/JPY supports & resistances
In terms of technical levels, if the EUR/JPY breaks decisively above the 142.00 mark, next resistances could be found at 142.12 (Apr 30 high) and 142.46 (Apr 29 high). On the other hand, supports are seen at 141.65 (May 1 low), 141.26 (100-day SMA) and 141.11 (Apr 30 low).
The EUR/JPY advanced slightly throughout the day and reached a high of 142.03 before losing momentum. At time of writing, the pair is trading at the 142.00 area, just a few pips above its opening price.
In the macroeconomic domain, Eurozone data includes de Markit manufacturing PMI and the unemployment rate, but traders might be unwilling to make big moves ahead of the US nonfarm payrolls. Next week, the ECB will meet to decide on monetary policy, with expectations of another on-hold month growing.
EUR/JPY supports & resistances
In terms of technical levels, if the EUR/JPY breaks decisively above the 142.00 mark, next resistances could be found at 142.12 (Apr 30 high) and 142.46 (Apr 29 high). On the other hand, supports are seen at 141.65 (May 1 low), 141.26 (100-day SMA) and 141.11 (Apr 30 low).