24 Jul 2013
EUR/JPY trading at 131.60 resistance
FXstreet.com (New York) - The EUR/JPY technical cross has managed to retrace higher Wednesday morning during Asian trading, tepidly climbing ahead of some Japanese data later today.
EUR/JPY strategic bias
At the time of writing, the EUR/JPY is trading with a slight gain, up +0.07% above its opening as it settles at 131.57. In terms of the technical levels, the EUR/JPY is slated to encounter calculated resistance should the cross rise to 131.60 (55-day MA), onto 131.72 (50-day SMA), and 131.99 (July 19 high).
The EUR/JPY gains were fleeting yesterday, and a general strengthening of the JPY has left the EUR/JPY under pressure. The daily charts support a bearish tone, with indicators following suit over an hourly basis, specifically with the price recently touching its 200-day SMA.
EUR/JPY strategic bias
At the time of writing, the EUR/JPY is trading with a slight gain, up +0.07% above its opening as it settles at 131.57. In terms of the technical levels, the EUR/JPY is slated to encounter calculated resistance should the cross rise to 131.60 (55-day MA), onto 131.72 (50-day SMA), and 131.99 (July 19 high).
The EUR/JPY gains were fleeting yesterday, and a general strengthening of the JPY has left the EUR/JPY under pressure. The daily charts support a bearish tone, with indicators following suit over an hourly basis, specifically with the price recently touching its 200-day SMA.