26 May 2015
EUR/JPY to continue sideways – Varengold
FXStreet (Barcelona) - The Varengold Bank Research Team expects the sideward movement of EUR/JPY to continue.
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 traded between its first resistance level at 136.66 and its first support level at 127.34, which we have already seen around two years ago.”
“According to the indicators, this sideward movement may hold for a while since the both levels seem pretty hard to pass.”
“However, if the pair is able to break through the resistance at 136.66 JPY, we may see a further appreciation of the EUR.”
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 traded between its first resistance level at 136.66 and its first support level at 127.34, which we have already seen around two years ago.”
“According to the indicators, this sideward movement may hold for a while since the both levels seem pretty hard to pass.”
“However, if the pair is able to break through the resistance at 136.66 JPY, we may see a further appreciation of the EUR.”