6 Dec 2013
EUR/JPY pulling back losses
FXstreet.com (London) - EUR/JPY is settling into the 139 handle on the bid after a a steady grind lower on the week. The pair has made a high of 139.30 on the Asian session with a rise in the Nikkie while hourly charts offer a target for 139.59.
Meanwhile, and as strategists at TD Securities noted, the ECB ends the Year on a Quiet Note. “No more surprises at this month’s meeting, with refi rate and deposit rate left on hold. In fact, no surprises anywhere with the prepared statement nearly identical to that of November, the staff forecasts largely in line with what we had been looking for, and the press conference a bit of a snoozer. ECB is in wait and see mode now, with its traditional policy tools largely exhausted, and it turns its focus now to structural reforms”.
EUR/JPY Levels
The 20 DMA is 136.15, the 50 DMA is 134.46 and the 200 DMA is 130.30. RSI (14) reads 53.52. Supports are ascending from 137.04, 137.77, 137.98, 138.33. Spot is 139.22, 139.60, 140.03, 140.99 and 141.68
Meanwhile, and as strategists at TD Securities noted, the ECB ends the Year on a Quiet Note. “No more surprises at this month’s meeting, with refi rate and deposit rate left on hold. In fact, no surprises anywhere with the prepared statement nearly identical to that of November, the staff forecasts largely in line with what we had been looking for, and the press conference a bit of a snoozer. ECB is in wait and see mode now, with its traditional policy tools largely exhausted, and it turns its focus now to structural reforms”.
EUR/JPY Levels
The 20 DMA is 136.15, the 50 DMA is 134.46 and the 200 DMA is 130.30. RSI (14) reads 53.52. Supports are ascending from 137.04, 137.77, 137.98, 138.33. Spot is 139.22, 139.60, 140.03, 140.99 and 141.68