3 Feb 2015
EUR/JPY sideways movement likely – Varengold
FXStreet (Barcelona) - The Varengold Bank Research Team comments that EUR/JPY might trade sideways and strong support at 130.88 might prevent further losses for the euro.
Key Quotes
“After touching the resistance level at 149.77, the bears took control over this currency pair and the EUR highly lost in value versus the JPY.”
“At the moment the pair is close to its first support level of 130.88 which may prevent the euro from further losses as it appears to be to strong to pass. The indicators are also indicating a recovery of the EUR, at least in the short run.”
“A sideward movement between the first support and the first resistance line may be likely over the course of the next months.”
“Support Levels around 130.88. Resistance Levels around 136.66.”
Key Quotes
“After touching the resistance level at 149.77, the bears took control over this currency pair and the EUR highly lost in value versus the JPY.”
“At the moment the pair is close to its first support level of 130.88 which may prevent the euro from further losses as it appears to be to strong to pass. The indicators are also indicating a recovery of the EUR, at least in the short run.”
“A sideward movement between the first support and the first resistance line may be likely over the course of the next months.”
“Support Levels around 130.88. Resistance Levels around 136.66.”