24 Mar 2014
EUR/JPY upside stopped short of the resistance at 141.50
FXStreet (Moscow) - EUR/JPY touched the current Asian high at 141.48, but retraced lower due to the cluster of fresh short-term offers.
EUR/JPY is PMI focused today
EUR/JPY finished the week nearly unchanged amid highly lots of indecision in the market. The cross will continue to move within a sideway channel as long at 142.00/20 resistance and 141.00-140.90 support are intact. On the intraday basis EUR/JPY managed to move above 1h 50 EMA at 141.15 boosted by positive Nikkei opening. Interestingly, poor Chinese PMI data that switched the markets to the risk-off mode was largely ignored by JPY traders. On the European session the single currency may receive support from better than expected flash PMIs, should they prove that the economic recovery of the currency union is on track. The closest resistance comes at 141.60, while the short-term downside is likely to be limited by 141.00.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 140.95, with support below at 140.57, 140.06 and 139.68, with resistance above at 141.46, 141.84, and 142.36. Hourly Moving Averages are mostly bullish, with the 200SMA at 142.64 and the daily 20EMA at 141.26. Hourly RSI is neutral at 58.
EUR/JPY is PMI focused today
EUR/JPY finished the week nearly unchanged amid highly lots of indecision in the market. The cross will continue to move within a sideway channel as long at 142.00/20 resistance and 141.00-140.90 support are intact. On the intraday basis EUR/JPY managed to move above 1h 50 EMA at 141.15 boosted by positive Nikkei opening. Interestingly, poor Chinese PMI data that switched the markets to the risk-off mode was largely ignored by JPY traders. On the European session the single currency may receive support from better than expected flash PMIs, should they prove that the economic recovery of the currency union is on track. The closest resistance comes at 141.60, while the short-term downside is likely to be limited by 141.00.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 140.95, with support below at 140.57, 140.06 and 139.68, with resistance above at 141.46, 141.84, and 142.36. Hourly Moving Averages are mostly bullish, with the 200SMA at 142.64 and the daily 20EMA at 141.26. Hourly RSI is neutral at 58.