17 Jun 2014
EUR/JPY shyly touched 138.50 and hurried back t0 138.25
FXStreet (Moscow) - EUR/JPY is trying to develop the upside momentum; the pair has come close to the offers located on approach to 138,50 and retreated to current level of 138.25.
Following the EUR lead
EUR/JPY dipped to 137.70 early on Monday, but maggot to return above 138.00 by the end of the day as the single currency found respite in CPI numbers that came out unchanged from flash estimates. Today we are waiting for German ZEW index that may support the idea that the European economy is on mend. According to the forecast the headline number will come out at 35.2 in June against 33.1 in May. Positive data may provide further support for EUR, but it is unlikely to change the longer-term fundamental picture. On the intraday basis the key levels to watch are: 138.50/56 on the upside and 138.10/00 on the downside.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 138.08, with support below at 137.86, 137.49 and 137.27, with resistance above at 138.46, 138.68, and 139.05. Hourly Moving Averages are mostly bullish with the 200SMA at 138.80 and the daily 20EMA at 139.01. Hourly RSI is bullish at 64.
Following the EUR lead
EUR/JPY dipped to 137.70 early on Monday, but maggot to return above 138.00 by the end of the day as the single currency found respite in CPI numbers that came out unchanged from flash estimates. Today we are waiting for German ZEW index that may support the idea that the European economy is on mend. According to the forecast the headline number will come out at 35.2 in June against 33.1 in May. Positive data may provide further support for EUR, but it is unlikely to change the longer-term fundamental picture. On the intraday basis the key levels to watch are: 138.50/56 on the upside and 138.10/00 on the downside.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 138.08, with support below at 137.86, 137.49 and 137.27, with resistance above at 138.46, 138.68, and 139.05. Hourly Moving Averages are mostly bullish with the 200SMA at 138.80 and the daily 20EMA at 139.01. Hourly RSI is bullish at 64.