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7 Mar 2014
EUR/JPY bulls paused at the resistance of 142.70
FXStreet (Moscow) - EUR/JPY stuck in a depressingly narrow range in Asia after a head-spinning rise on Thursday; the cross consolidates close to the resistance level of 142.70.
Is it time for EUR/JPY to calm down?
EUR/JPY grew nearly 200 pips on Thursday on the Yen weakening across thee board. The cross broke through the resistance of 142.00 and stalled only at the resistance of 142.70 and 143.00 is within a reach now. The European calendar is empty for today, so the cross will be influenced by technical factors and knock on effects from US Non-Farm Payroll. The correction on the profit taking ahead of the end of the week is quite possible as the traders might prefer to not to take chances with possible geopolitical conflicts escalation. Anyway as long as the cross stays above 142.00 the general bias is bullish. The intraday upside is likely to be limited by 143.00. while the short-term support comes at 142.30.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 142.05, with support below at 141.17, 139.55 and 138.67, with resistance above at 143.67, 144.55, and 146.17. Hourly Moving Averages are bullish, with the 200SMA at 140.38 and the daily 20EMA at 140.36. Hourly RSI is neutral at 79.
Is it time for EUR/JPY to calm down?
EUR/JPY grew nearly 200 pips on Thursday on the Yen weakening across thee board. The cross broke through the resistance of 142.00 and stalled only at the resistance of 142.70 and 143.00 is within a reach now. The European calendar is empty for today, so the cross will be influenced by technical factors and knock on effects from US Non-Farm Payroll. The correction on the profit taking ahead of the end of the week is quite possible as the traders might prefer to not to take chances with possible geopolitical conflicts escalation. Anyway as long as the cross stays above 142.00 the general bias is bullish. The intraday upside is likely to be limited by 143.00. while the short-term support comes at 142.30.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 142.05, with support below at 141.17, 139.55 and 138.67, with resistance above at 143.67, 144.55, and 146.17. Hourly Moving Averages are bullish, with the 200SMA at 140.38 and the daily 20EMA at 140.36. Hourly RSI is neutral at 79.