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27 Jan 2014
EUR/JPY bulls woke up to push the cross above 140.00
FXstreet.com (Moscow) - EUR/JPY opened the day at 139.80, but managed to climb back above 140.00 as the positive fundamental data inspired the JPY bulls across the board.
EUR/JPY is out of the range. At last!
The week wasn’t that boring for EUR/JPY after all. Having spent the whole week in a tightest possible range, the cross released its potential on Friday, as the overall anti-risk sentiments supported the demand for safe-heaven assets. This is the fifth negative week for EUR/JPY in the row, and now that the cross closed below the significant threshold of 140.00 longer-term bearish trend is about to speed-up. We believe that EUR/JPY will continue the downside, though further correction amid dovish BOJ and worse than expected trade data in Japan is not entirely out of the question. Watch out for the support of 139.70, once broken, the cross continue to fall to 139.50, where new buyers may emerge. If the cross manages to stay above 140.00, then 140.50 will come into play, while the intraday upside is likely to be capped by 140.70.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 140.46, with support below at 139.13, 138.43 and 137.10, with resistance above at 141.17, 142.50, and 143.20. Hourly Moving Averages are mostly bearish, with the 200SMA at 141.59 and the daily 20EMA at 141.70. Hourly RSI is neutral at 43.
EUR/JPY is out of the range. At last!
The week wasn’t that boring for EUR/JPY after all. Having spent the whole week in a tightest possible range, the cross released its potential on Friday, as the overall anti-risk sentiments supported the demand for safe-heaven assets. This is the fifth negative week for EUR/JPY in the row, and now that the cross closed below the significant threshold of 140.00 longer-term bearish trend is about to speed-up. We believe that EUR/JPY will continue the downside, though further correction amid dovish BOJ and worse than expected trade data in Japan is not entirely out of the question. Watch out for the support of 139.70, once broken, the cross continue to fall to 139.50, where new buyers may emerge. If the cross manages to stay above 140.00, then 140.50 will come into play, while the intraday upside is likely to be capped by 140.70.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 140.46, with support below at 139.13, 138.43 and 137.10, with resistance above at 141.17, 142.50, and 143.20. Hourly Moving Averages are mostly bearish, with the 200SMA at 141.59 and the daily 20EMA at 141.70. Hourly RSI is neutral at 43.