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5 Jun 2014
EUR/JPY contained still by 139.80
FXStreet (Guatemala) - EUR/JPY is trading at 139.72, up 0.01% on the day, having posted a daily high at 139.84 and low at 138.67.
EUR/JPY was of course volatile over the ECB and since been kind to the bulls but remains contained at congestion in the upper end on the 139 handle with 139.80 capping the move a cent higher from its lows. Trevor Greetham, Director of Asset Allocation at Fidelity Worldwide Investment explained in respect to the ECB and developed global markets, “It is significant that the ECB is easing when the economy is growing and peripheral bond spreads are very tight. With the slowdown in China keeping inflation under downward pressure, developed economy central banks are willing to ease to sustain a recovery already in place or on grounds that inflation is too low. Today’s moves are part of the positive growth and liquidity backdrop supporting developed equity markets.”
EUR/JPY Levels
With spot trading at 139.73, we can see next resistance ahead at 139.76 (Daily Classic PP), 139.84 (Daily High), 139.96 (Daily Classic R1), 140.00 (Yesterday's High) and 140.12 (Weekly Classic R2). Support below can be found at 139.72 (Daily Open), 139.72 (Weekly High), 139.55 (Yesterday's Low), 139.52 (Daily 20 SMA) and 139.51 (Daily Classic S1).
EUR/JPY was of course volatile over the ECB and since been kind to the bulls but remains contained at congestion in the upper end on the 139 handle with 139.80 capping the move a cent higher from its lows. Trevor Greetham, Director of Asset Allocation at Fidelity Worldwide Investment explained in respect to the ECB and developed global markets, “It is significant that the ECB is easing when the economy is growing and peripheral bond spreads are very tight. With the slowdown in China keeping inflation under downward pressure, developed economy central banks are willing to ease to sustain a recovery already in place or on grounds that inflation is too low. Today’s moves are part of the positive growth and liquidity backdrop supporting developed equity markets.”
EUR/JPY Levels
With spot trading at 139.73, we can see next resistance ahead at 139.76 (Daily Classic PP), 139.84 (Daily High), 139.96 (Daily Classic R1), 140.00 (Yesterday's High) and 140.12 (Weekly Classic R2). Support below can be found at 139.72 (Daily Open), 139.72 (Weekly High), 139.55 (Yesterday's Low), 139.52 (Daily 20 SMA) and 139.51 (Daily Classic S1).