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1 Apr 2014
EUR/JPY bulls pluck up courage at 142.50/60 resistance zone
FXStreet (Moscow) - EUR/JPY has stuck at a strong resistance area of 142.50/60 as EUR bulls take a pause.
EUR/JPY is at the crossroads
EUR/JPY broke above 142.50 level early in Europe, but bumped into strong offers placed around 142.60 level. The cross tried to broke above twice, but the the bullish momentum was not strong enough due to EUR/USD downside correction. The intraday technical picture is still bullish ask long as the cross stays above 142.10/00 area. Now that the key European risk events are out of the way, the cross movements might be dominated by technical factors and knock-on effects of USD reaction to ISM numbers. Should the cross manage to get firmly above 142.60 area, the upside will accelerate to 142.80 and, possibly, to 143.00. On the downside the key support is still at 142.10/00.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 143.03, with support below at 141.43, 140.72 and 140.12, with resistance above at 142.74, 143.34, and 144.05. Hourly Moving Averages are bullish, with the 200SMA at 141.21 and the daily 20EMA at 141.26. Hourly RSI is neutral at 62.
EUR/JPY is at the crossroads
EUR/JPY broke above 142.50 level early in Europe, but bumped into strong offers placed around 142.60 level. The cross tried to broke above twice, but the the bullish momentum was not strong enough due to EUR/USD downside correction. The intraday technical picture is still bullish ask long as the cross stays above 142.10/00 area. Now that the key European risk events are out of the way, the cross movements might be dominated by technical factors and knock-on effects of USD reaction to ISM numbers. Should the cross manage to get firmly above 142.60 area, the upside will accelerate to 142.80 and, possibly, to 143.00. On the downside the key support is still at 142.10/00.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 143.03, with support below at 141.43, 140.72 and 140.12, with resistance above at 142.74, 143.34, and 144.05. Hourly Moving Averages are bullish, with the 200SMA at 141.21 and the daily 20EMA at 141.26. Hourly RSI is neutral at 62.