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17 Jul 2013
EUR/JPY finding strong resistance below 130.75.
FXstreet.com (Barcelona) - The EUR/JPY foreign exchange cross rate is last quoted at 130.64, off recent session highs at 130.76, capped for the third time in the week below the 130.77/83 ask line.
EUR/JPY to hold in the 129/131 range
“Despite EUR strength, the EUR/JPY has been unable to advance much Tuesday,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “Short term perspective is bullish, with price above moving averages and indicators bouncing slightly higher from their midlines, although the lack of a certain direction in bigger time frames persists. Expect the pair to hold in the 129.20/131.00 range.”
EUR/JPY key technical levels
Bednarik locates support levels at: 130.10, 129.60 and 129.10, while resistance levels at: 131.00, 131.45 and 131.90.
EUR/JPY to hold in the 129/131 range
“Despite EUR strength, the EUR/JPY has been unable to advance much Tuesday,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “Short term perspective is bullish, with price above moving averages and indicators bouncing slightly higher from their midlines, although the lack of a certain direction in bigger time frames persists. Expect the pair to hold in the 129.20/131.00 range.”
EUR/JPY key technical levels
Bednarik locates support levels at: 130.10, 129.60 and 129.10, while resistance levels at: 131.00, 131.45 and 131.90.