8 Apr 2014
EUR/JPY treating 141.60 as support
FXStreet (Bali) - EUR/JPY is presently trading at the 141.70 vicinity, after a small 0.12% gain on Monday.
EUR/JPY regains 141.60 level
The sharp retreat off 143.35 double top last week saw the rate bottom out at 141.12 in the last Asian session, from where the Euro managed to recover and break above 141.60 swing high in European trading, now using the area as a technical cushion ahead of Tokyo. The pair is now set to extend its tight range until the BoJ monetary policy publication from 3GMT, an event in which market analysts expect the central bank to stand pat.
EUR/JPY technicals
Technically, Valeria Bednarik, Chief Analyst at FXStreet, notes: "The hourly chart shows momentum above its 100 line albeit flat, while early attempt of advancing was capped by a flat 200 SMA now around 141.90. In the 4 hours chart readings corrected oversold readings and remain in negative territory, while price hovers around the 50% retracement of the latest bullish run, making dojis which reflects the lack of a clear intraday direction."
EUR/JPY regains 141.60 level
The sharp retreat off 143.35 double top last week saw the rate bottom out at 141.12 in the last Asian session, from where the Euro managed to recover and break above 141.60 swing high in European trading, now using the area as a technical cushion ahead of Tokyo. The pair is now set to extend its tight range until the BoJ monetary policy publication from 3GMT, an event in which market analysts expect the central bank to stand pat.
EUR/JPY technicals
Technically, Valeria Bednarik, Chief Analyst at FXStreet, notes: "The hourly chart shows momentum above its 100 line albeit flat, while early attempt of advancing was capped by a flat 200 SMA now around 141.90. In the 4 hours chart readings corrected oversold readings and remain in negative territory, while price hovers around the 50% retracement of the latest bullish run, making dojis which reflects the lack of a clear intraday direction."