7 May 2014
EUR/JPY is sidelined above 141.40 support
FXStreet (Moscow) - EUR/JPY has retreated from its Asian high at 141.73 and touched the support level of 141.40.
On the cross roads
EUR/JPY made a feeble attempt to break above 142.00, but the bulls was out luck as the cross ended Tuesday in red at 141.54 as EUR rally clashed with JPY rally. Today the cross will be influence by the same old factors: USD weakness, geopolitical risks and EUR positioning ahead of ECB meeting scheduled on Thursday. The European calendar is packed with events that may trigger market volatility, though they won’t be game changers. The closes support is seen at 141.40 and followed by 141.30. The upside will be limited by 142.00.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 141.70, with support below at 141.28, 140.94 and 140.52, with resistance above at 142.02, 142.46, and 142.80. Hourly Moving Averages are bearish with the 200SMA at 141.71 and the daily 20EMA at 141.59. Hourly RSI is bearish at 40.
On the cross roads
EUR/JPY made a feeble attempt to break above 142.00, but the bulls was out luck as the cross ended Tuesday in red at 141.54 as EUR rally clashed with JPY rally. Today the cross will be influence by the same old factors: USD weakness, geopolitical risks and EUR positioning ahead of ECB meeting scheduled on Thursday. The European calendar is packed with events that may trigger market volatility, though they won’t be game changers. The closes support is seen at 141.40 and followed by 141.30. The upside will be limited by 142.00.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 141.70, with support below at 141.28, 140.94 and 140.52, with resistance above at 142.02, 142.46, and 142.80. Hourly Moving Averages are bearish with the 200SMA at 141.71 and the daily 20EMA at 141.59. Hourly RSI is bearish at 40.