17 Jul 2014
EUR/JPY remains heavy and bearish
FXStreet (Guatemala) - EUR/JPY is trading at 137.52, up 0.01% on the day, having posted a daily high at 137.60 and low at 137.49.
EUR/JPY remains under pressure from the string bearish and heavy drop this week. Meanwhile Val Bednarik, Chief analyst at FXStreet explained that technically, the hourly chart shows a healthy bearish bias with momentum heading south and price moving away from its 100 SMA currently in the 137.90 price zone offering immediate short term resistance. “In the 4 hours chart the pair is also biased lower according to technical readings, pointing for a downward continuation towards strong 136.60 midterm support”.
EUR/JPY Levels
With spot trading at 137.53, we can see next resistance ahead at 137.53 (Daily Classic S2), 137.60 (Daily High), 137.72 (Hourly 20 EMA), 137.75 (Daily Classic S1) and 137.85 (Monthly Low). Support below can be found at 137.51 (Daily Open), 137.49 (Yesterday's Low), 137.49 (Daily Low), 137.28 (Weekly Classic S1) and 137.18 (Daily Classic S3).
EUR/JPY remains under pressure from the string bearish and heavy drop this week. Meanwhile Val Bednarik, Chief analyst at FXStreet explained that technically, the hourly chart shows a healthy bearish bias with momentum heading south and price moving away from its 100 SMA currently in the 137.90 price zone offering immediate short term resistance. “In the 4 hours chart the pair is also biased lower according to technical readings, pointing for a downward continuation towards strong 136.60 midterm support”.
EUR/JPY Levels
With spot trading at 137.53, we can see next resistance ahead at 137.53 (Daily Classic S2), 137.60 (Daily High), 137.72 (Hourly 20 EMA), 137.75 (Daily Classic S1) and 137.85 (Monthly Low). Support below can be found at 137.51 (Daily Open), 137.49 (Yesterday's Low), 137.49 (Daily Low), 137.28 (Weekly Classic S1) and 137.18 (Daily Classic S3).