13 Jun 2014
EUR/JPY supported on 138 handle
FXStreet (Guatemala) - EUR/JPY is trading at 138.08, up 0.19% on the day, having posted a daily high at 138.58 and low at 137.75.
EUR/JPY bulls are defending 138 handle and meanwhile, analysts at Rabobank, explained that the reaction in interest rates has led to talk of the EUR potentially being used as a funding currency for carry trades. “However, in a region as complex as the Eurozone, the term ‘carry trade’ should be used with caution…The ECB’s threat that QE could yet be invoked could therefore lend the EUR support if it increased demand for bonds”.
EUR/JPY Levels
Current price is 138.09, with resistance ahead at 138.12 (Hourly 20 EMA), 138.15 (Weekly Classic S2), 138.22 (Daily Classic R1), 138.37 (Yesterday's High) and 138.41 (Hourly 100 SMA). Next support to the downside can be found at 137.97 (Daily Classic PP), 137.83 (Daily Open), 137.83 (Monthly Low), 137.83 (Weekly Low) and 137.75 (Daily Low).
EUR/JPY bulls are defending 138 handle and meanwhile, analysts at Rabobank, explained that the reaction in interest rates has led to talk of the EUR potentially being used as a funding currency for carry trades. “However, in a region as complex as the Eurozone, the term ‘carry trade’ should be used with caution…The ECB’s threat that QE could yet be invoked could therefore lend the EUR support if it increased demand for bonds”.
EUR/JPY Levels
Current price is 138.09, with resistance ahead at 138.12 (Hourly 20 EMA), 138.15 (Weekly Classic S2), 138.22 (Daily Classic R1), 138.37 (Yesterday's High) and 138.41 (Hourly 100 SMA). Next support to the downside can be found at 137.97 (Daily Classic PP), 137.83 (Daily Open), 137.83 (Monthly Low), 137.83 (Weekly Low) and 137.75 (Daily Low).