24 Mar 2015
EUR/JPY: Settled on the 131 handle ahead of Tokyo open
FXStreet (Guatemala) - EUR/JPY is currently trading at 131.05 with a high of 131.21 and a low of 130.97.
EUR/JPY has positioned a placement on to the 131 handle in Asia but has not come with much conviction and the price is flat and sideways in a quiet Asian session ahead of the Tokyo open.
Technically, Valeria Bednarik, chief analyst at FXStreet noted that in the 4 hours chart, the Momentum indicator heads strongly up whilst the RSI begins to look exhausted near overbought levels. "Nevertheless, the pair is poised to extend its advance, eyeing a retest of the mentioned 131.72 level. A break above it, will likely signal an upward continuation up to 133.45 during the upcoming days." However, Karen Jones, chief analyst at Commerzbank explained that as long a last week’s high at 131.67 cap, further downside pressure should be seen.
EUR/JPY has positioned a placement on to the 131 handle in Asia but has not come with much conviction and the price is flat and sideways in a quiet Asian session ahead of the Tokyo open.
Technically, Valeria Bednarik, chief analyst at FXStreet noted that in the 4 hours chart, the Momentum indicator heads strongly up whilst the RSI begins to look exhausted near overbought levels. "Nevertheless, the pair is poised to extend its advance, eyeing a retest of the mentioned 131.72 level. A break above it, will likely signal an upward continuation up to 133.45 during the upcoming days." However, Karen Jones, chief analyst at Commerzbank explained that as long a last week’s high at 131.67 cap, further downside pressure should be seen.