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30 May 2014
EUR/JPY stopped at the pivotal support of 138.00
FXStreet (Moscow) - EUR/JPY touched the Asian low of 138.06, but didm\t dare to continue the downside. Currently, the cross is trading at 138.21
EUR/JPY is under the bears' thumb
EUR/JPY is getting ready to finish the fourth week in decline at the lowest levels since the beginning of February. The cross plunged early in Asia despite rather dismal Industrial Production and Household Spending reports as stronger inflation numbers led the market to believe that further BOJ easing is not on the cards yet. The major support of 138.00 looms large. It is likely to cap the intraday decline and? possibly, trigger some upside correction ahead of the weekend. The upside is most likely to be limited by the resistance of 138.40/50.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 138.32, with support below at 138.10, 137.75 and 137.53, with resistance above at 138.67, 138.89, and 139.24. Hourly Moving Averages are bearish with the 200SMA at 138.78 and the daily 20EMA at 139.58. Hourly RSI is bearish at 36.
EUR/JPY is under the bears' thumb
EUR/JPY is getting ready to finish the fourth week in decline at the lowest levels since the beginning of February. The cross plunged early in Asia despite rather dismal Industrial Production and Household Spending reports as stronger inflation numbers led the market to believe that further BOJ easing is not on the cards yet. The major support of 138.00 looms large. It is likely to cap the intraday decline and? possibly, trigger some upside correction ahead of the weekend. The upside is most likely to be limited by the resistance of 138.40/50.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 138.32, with support below at 138.10, 137.75 and 137.53, with resistance above at 138.67, 138.89, and 139.24. Hourly Moving Averages are bearish with the 200SMA at 138.78 and the daily 20EMA at 139.58. Hourly RSI is bearish at 36.