24 Oct 2014
EUR/JPY reversing Thursday gains, 136.50 support under threat
FXStreet (Moscow) - EUR/JPY is losing ground. The cross started the day at 136.90 and retreated towards current level of 136.63 on the back of JPY strength
EUR/JPY daily chart is telling a big story. The cross staged an impressive rally from under 136.00 up to 137.00 high and Eurozone Flash PMI has nothing to do with it. JPY was losing ground across the board on the back of improved risk sentiments following positive US corporate earnings reports. Asian session has brought profit-taking ahead of the weekend, while news of Ebola case registered in NY causes move back to safety. Ahead looks like a quiet calendar, so the cross might be influenced by technical factors and position adjustment ahead of EU banks stress tests to be published on Sunday.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 136.39, with support below at 135.75, 134.57 and 133.93, with resistance above at 137.57, 138.21, and 139.39. Hourly Moving Averages are mixed with the 200SMA bullish at 136.06 and the daily 20EMA flat at 136.86. Hourly RSI is bullish at 57.
EUR/JPY daily chart is telling a big story. The cross staged an impressive rally from under 136.00 up to 137.00 high and Eurozone Flash PMI has nothing to do with it. JPY was losing ground across the board on the back of improved risk sentiments following positive US corporate earnings reports. Asian session has brought profit-taking ahead of the weekend, while news of Ebola case registered in NY causes move back to safety. Ahead looks like a quiet calendar, so the cross might be influenced by technical factors and position adjustment ahead of EU banks stress tests to be published on Sunday.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 136.39, with support below at 135.75, 134.57 and 133.93, with resistance above at 137.57, 138.21, and 139.39. Hourly Moving Averages are mixed with the 200SMA bullish at 136.06 and the daily 20EMA flat at 136.86. Hourly RSI is bullish at 57.