6 Feb 2014
EUR/JPY overdone? RSI (14) 71.65.
FXStreet (Guatemala) - EUR/JPY has staged a series of mini rallies making higher highs and higher lows, reaching a high so far on the day of 138.83.
EUR/JPY is meeting supply there and is currently testing the downside through 138.60. The ECB held, but as Sebastien Galy wrote, “The ECB still doesn't want to pull the trigger on more easing hoping past easing will be enough. A short covering is on the way in EURUSD. "Underlying price pressure weak, credit subdued, prolonged period of inflation, further analysis on inflation in March"
EUR/JPY Levels
The 20 DMA is 140.41, the 50 DMA is 141.21 and the 200 DMA is 133.91. RSI (14) reads 74.65. Supports are 135.52, 136.02, 136.25, 136.55 and
137.85. Spot is 138.56, 138.90 and 139.22.
EUR/JPY is meeting supply there and is currently testing the downside through 138.60. The ECB held, but as Sebastien Galy wrote, “The ECB still doesn't want to pull the trigger on more easing hoping past easing will be enough. A short covering is on the way in EURUSD. "Underlying price pressure weak, credit subdued, prolonged period of inflation, further analysis on inflation in March"
EUR/JPY Levels
The 20 DMA is 140.41, the 50 DMA is 141.21 and the 200 DMA is 133.91. RSI (14) reads 74.65. Supports are 135.52, 136.02, 136.25, 136.55 and
137.85. Spot is 138.56, 138.90 and 139.22.