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28 Mar 2014
EUR/JPY bears set sights on 140.00 support
FXStreet (Moscow) - EUR/JPY rebounded from the Asian low of 14.22, but the selling pressure is still strong
EUR/JPY is pressed down
EUR/JPY is under pressure as the cross closed in deep red on Thursday. It was the second day of decline caused by general EUR negative sentiments. JPY traders are hesitant, so the cross is influenced mostly by the single currency dynamics. Now that EUR/JPY is firmly below 141.00 the longer-term technical picture looks really bearish. Lower tops on weekly chart confirms this view. On the intraday basis, the downside is capped by strong support level of 140.00, where strong demand is coupled with stops at 139.90. Once this area is broken, the cross may crash to new multi-week lows of 139.50. The upside is limited by 1h 50 EMA at 140.69.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 140.55, with support below at 140.03, 139.66 and 139.15, with resistance above at 140.92, 141.43, and 141.80. Hourly Moving Averages are bearish, with the 200SMA at 141.17 and the daily 20EMA at 141.15. Hourly RSI is neutral at 43.
EUR/JPY is pressed down
EUR/JPY is under pressure as the cross closed in deep red on Thursday. It was the second day of decline caused by general EUR negative sentiments. JPY traders are hesitant, so the cross is influenced mostly by the single currency dynamics. Now that EUR/JPY is firmly below 141.00 the longer-term technical picture looks really bearish. Lower tops on weekly chart confirms this view. On the intraday basis, the downside is capped by strong support level of 140.00, where strong demand is coupled with stops at 139.90. Once this area is broken, the cross may crash to new multi-week lows of 139.50. The upside is limited by 1h 50 EMA at 140.69.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 140.55, with support below at 140.03, 139.66 and 139.15, with resistance above at 140.92, 141.43, and 141.80. Hourly Moving Averages are bearish, with the 200SMA at 141.17 and the daily 20EMA at 141.15. Hourly RSI is neutral at 43.