19 Feb 2015
EUR/JPY rebounds from 135.00
FXStreet (Edinburgh) - EUR/JPY seems to have found decent support in the vicinity of the key level at 135.00 on Thursday.
EUR/JPY it is all about Greece
The pair keeps swinging along with the EUR moves today, against a backdrop of mounting speculations regarding the next steps in the EU-Greece debt talks.
The cross is now reclaiming the mid-135.00s area ahead of the release of the consumer sentiment data in the euro bloc (-7.55 exp.).
From the technical view, Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggested “The correction higher may have already terminated at 136.70 – the intraday Elliott wave counts are more negative compared to the Elliott wave count on the daily, which is suggesting that we allow for a deeper retracement into the 138.50/140.60 band”.
EUR/JPY important levels
At the moment the cross is advancing 0.17% at 135.47 and a surpass of 135.94 (high Feb.19) would aim for 136.22 (high Feb.17) and then 136.70 (high Feb.12). On the downside, the immediate support lines up at 134.47 (Kijun Sen) followed by 133.96 (low Feb.17) and finally 133.68 (low Feb.9).
EUR/JPY it is all about Greece
The pair keeps swinging along with the EUR moves today, against a backdrop of mounting speculations regarding the next steps in the EU-Greece debt talks.
The cross is now reclaiming the mid-135.00s area ahead of the release of the consumer sentiment data in the euro bloc (-7.55 exp.).
From the technical view, Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggested “The correction higher may have already terminated at 136.70 – the intraday Elliott wave counts are more negative compared to the Elliott wave count on the daily, which is suggesting that we allow for a deeper retracement into the 138.50/140.60 band”.
EUR/JPY important levels
At the moment the cross is advancing 0.17% at 135.47 and a surpass of 135.94 (high Feb.19) would aim for 136.22 (high Feb.17) and then 136.70 (high Feb.12). On the downside, the immediate support lines up at 134.47 (Kijun Sen) followed by 133.96 (low Feb.17) and finally 133.68 (low Feb.9).