1 May 2014
EUR/JPY is off the Asian low 141.66. Now what?
FXStreet (Moscow) - EUR/JPY has frozen to its opening level of 141.85 on a dull and inactive holiday trading in Asia
Stuck in a range
EUR/JPY rushed to and fro in a 100-pip range yesterday, driven by a number of factors such as EZ inflation data and spill-over effect of USD weakness. The cross managed to finish the day in the green zone, while USD/JPY was pressured down. It means that EUR/JPY was influence mostly by EUR-related sentiments. Though today the situation is likely to change as most European markets are closed to observe the May Day holiday. This leaves the cross to the mercy of technical factors and risk sentiments. On the intraday basis, the downside will be limited by 141.50, while the upside momentum will fade away at 142.00.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 141.71, with support below at 141.24, 140.66 and 140.19, with resistance above at 142.28, 142.75, and 143.33. Hourly Moving Averages are mostly bullish with the 200SMA at 141.63 and the daily 20EMA at 141.52. Hourly RSI is bullish at 52.
Stuck in a range
EUR/JPY rushed to and fro in a 100-pip range yesterday, driven by a number of factors such as EZ inflation data and spill-over effect of USD weakness. The cross managed to finish the day in the green zone, while USD/JPY was pressured down. It means that EUR/JPY was influence mostly by EUR-related sentiments. Though today the situation is likely to change as most European markets are closed to observe the May Day holiday. This leaves the cross to the mercy of technical factors and risk sentiments. On the intraday basis, the downside will be limited by 141.50, while the upside momentum will fade away at 142.00.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 141.71, with support below at 141.24, 140.66 and 140.19, with resistance above at 142.28, 142.75, and 143.33. Hourly Moving Averages are mostly bullish with the 200SMA at 141.63 and the daily 20EMA at 141.52. Hourly RSI is bullish at 52.