14 May 2014
EUR/JPY reversed losses after brief dip below 140.00
FXStreet (Moscow) - EUR/JPY briefly dipped below 140.00, but the movement was not sustained as the cross quickly returned to current levels of 140.12
ZEW pulled the rug from under EUR/JPY bulls feet
EUR/JPY came close to an important resistance level of 141,00 in Asia on Tuesday, but lost all gained ground during European hours as investors were shocked by weak ZEW numbers. The single currency plunged across the board and took the cross to 140.15 by the end of the day. The release of Japan's CGPI data has had little impact on EUR/JPY as data met the expectations. But negative Nikkei 225 opening produced bad impression on risk sensitive traders and pushed the cross below the pivotal 140.00 level where technical factors came into play. Now all eyes are on German inflation numbers. Will they push the cross to new lows? Watch 139.95 level. Once it is broken, the downside will be extended to 139.70. The upside correction will be limited by 140.40.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 140.36, with support below at 139.75, 139.37 and 138.76, with resistance above at 140.74, 141.35, and 141.73. Hourly Moving Averages are mostly bearish with the 200SMA at 141.15 and the daily 20EMA at 141.19. Hourly RSI is bearish at 46.
ZEW pulled the rug from under EUR/JPY bulls feet
EUR/JPY came close to an important resistance level of 141,00 in Asia on Tuesday, but lost all gained ground during European hours as investors were shocked by weak ZEW numbers. The single currency plunged across the board and took the cross to 140.15 by the end of the day. The release of Japan's CGPI data has had little impact on EUR/JPY as data met the expectations. But negative Nikkei 225 opening produced bad impression on risk sensitive traders and pushed the cross below the pivotal 140.00 level where technical factors came into play. Now all eyes are on German inflation numbers. Will they push the cross to new lows? Watch 139.95 level. Once it is broken, the downside will be extended to 139.70. The upside correction will be limited by 140.40.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 140.36, with support below at 139.75, 139.37 and 138.76, with resistance above at 140.74, 141.35, and 141.73. Hourly Moving Averages are mostly bearish with the 200SMA at 141.15 and the daily 20EMA at 141.19. Hourly RSI is bearish at 46.