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9 Aug 2013
EUR/JPY capped at 129.50
FXstreet.com (Barcelona) - EUR/JPY has traded in a range overnight and this morning, posting a high at 129.58 and a low at 128.91 as the RBA Policy Statement and Chinese data have led sentiment.
Spot has largely been confined to trading between 129.50 and 129.00, and in its latest test of the top side of the range looks to have been rejected, with spot pushing lower to where it is currently trading at 129.28. Overnight the RBA lowered its growth forecast but Chinese data came in generally better than expected. Ahead today, the economic calendar is light with only UK and Canadian events offering interest.
EUR/JPY technically bullish?
The FXstreet.com Trend Index is showing EUR/JPY to be slightly bullish. Looking to daily classic pivot points, we can see support below at the daily pivot at 129.01, S1 128.55 and S2 at 127.74. Above, resistance can be seen at R1 129.82, R2 at 130.28 and R3 at 131.09.
Spot has largely been confined to trading between 129.50 and 129.00, and in its latest test of the top side of the range looks to have been rejected, with spot pushing lower to where it is currently trading at 129.28. Overnight the RBA lowered its growth forecast but Chinese data came in generally better than expected. Ahead today, the economic calendar is light with only UK and Canadian events offering interest.
EUR/JPY technically bullish?
The FXstreet.com Trend Index is showing EUR/JPY to be slightly bullish. Looking to daily classic pivot points, we can see support below at the daily pivot at 129.01, S1 128.55 and S2 at 127.74. Above, resistance can be seen at R1 129.82, R2 at 130.28 and R3 at 131.09.