24 Jan 2014
EUR/JPY supported ahead of 3 month uptrend
FXstreet.com (Guatemala) - EUR/JPY is taking a bit of a breather, after coming up for some air after the avalanche that was a move instigated by risk aversion in the markets.
EUR/JPY had fallen on a series of supply levels from 142.35 to 141.02 the low and has since been making its way back into the 141.60’s. The Yen has been the main benefactor of the risk off plays across markets but for the mean time, support is coming in at the top of the November ascending trend line.
EUR/JPY Levels
The 20 DMA is 142.57, the 50 DMA is 140.56 and the 200 DMA is 133.40. RSI (14) reads 59.40. Supports are ascending from 139.60, 140.03, 140.33, 140.90,141.33. Spot is 141.59 while resistances are 141.96, 142.15, 142.90 and 143.19.
EUR/JPY had fallen on a series of supply levels from 142.35 to 141.02 the low and has since been making its way back into the 141.60’s. The Yen has been the main benefactor of the risk off plays across markets but for the mean time, support is coming in at the top of the November ascending trend line.
EUR/JPY Levels
The 20 DMA is 142.57, the 50 DMA is 140.56 and the 200 DMA is 133.40. RSI (14) reads 59.40. Supports are ascending from 139.60, 140.03, 140.33, 140.90,141.33. Spot is 141.59 while resistances are 141.96, 142.15, 142.90 and 143.19.