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6 Aug 2014
EUR/JPY is dangerously close to 137.00; where are buyers?
FXStreet (Moscow) - EUR/JPY is moving within a clear bearish trent on the intraday interval; the cross has come close to 137.00 support where new buyers may emerge.
EUR/JPY is apprehensive ahead of ECB
Tuesday was supposed to be another uninspiring day for EUR/JPY. the cross moved within a narrow range the whole day as EUR weakness was counterbalanced by JPY weakness, while USD strength was behind both moves. But bears had an upper hand by the end of the day. European calendar is next to empty today, so we keep waiting for German industrial production numbers and ECB monetary policy decision. Today the head of the European central bank meets the incoming European Commission president, Jean-Claude Juncker, though the guys are unlikely to let the cat out of the bag ahead of the central bank’s meeting. Meanwhile, from the technical point of view the intraday EUR/JPY movements are likely to be limited by 137.00 on the downside and 137.35/40 on the upside
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 137.35, with support below at 136.96, 137.68 and 136.28, with resistance above at 137.63, 138.02, and 138.30. Hourly Moving Averages are mixed with the 200SMA bearish at 137.29 and the daily 20EMA flat at 137.3 Hourly RSI is bearish at 27.
EUR/JPY is apprehensive ahead of ECB
Tuesday was supposed to be another uninspiring day for EUR/JPY. the cross moved within a narrow range the whole day as EUR weakness was counterbalanced by JPY weakness, while USD strength was behind both moves. But bears had an upper hand by the end of the day. European calendar is next to empty today, so we keep waiting for German industrial production numbers and ECB monetary policy decision. Today the head of the European central bank meets the incoming European Commission president, Jean-Claude Juncker, though the guys are unlikely to let the cat out of the bag ahead of the central bank’s meeting. Meanwhile, from the technical point of view the intraday EUR/JPY movements are likely to be limited by 137.00 on the downside and 137.35/40 on the upside
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 137.35, with support below at 136.96, 137.68 and 136.28, with resistance above at 137.63, 138.02, and 138.30. Hourly Moving Averages are mixed with the 200SMA bearish at 137.29 and the daily 20EMA flat at 137.3 Hourly RSI is bearish at 27.