16 Jul 2014
EUR/JPY takes the 138 handle on
FXStreet (Guatemala) - EUR/JPY is trading at 138.07, up 0.03% on the day, having posted a daily high at 138.11 and low at 137.91.
EUR/JPY had been pressed upon in the US and the JPY was picking up support from nervous investors there. The pair ha remained subdued since crossing into Asia but has now crossed back onto the 138 handle and seems to be picking up some light interest here. Valeria Bednarik, chief analyst at FXStreet explained that “In the 4 hours chart, indicators present a strong bearish slope, but stand right above their midlines, still not confirming further slides. Nevertheless, accelerations below current levels should lead to a quick test of the 137.50 level, ahead of 137.00 level for today. Recoveries should remain contained by 138.40 strong static resistance, where sellers are expected to surge”.
EUR/JPY Levels
Spot is presently trading at 138.07, and next resistance can be seen at and 138.11 (Hourly 100 SMA and daily high). Support below can be found at 137.96 (Daily Open), 137.91 (Daily Low), 137.89 (Yesterday's Low), 137.85 (Monthly Low) and 137.85 (Weekly Low).
EUR/JPY had been pressed upon in the US and the JPY was picking up support from nervous investors there. The pair ha remained subdued since crossing into Asia but has now crossed back onto the 138 handle and seems to be picking up some light interest here. Valeria Bednarik, chief analyst at FXStreet explained that “In the 4 hours chart, indicators present a strong bearish slope, but stand right above their midlines, still not confirming further slides. Nevertheless, accelerations below current levels should lead to a quick test of the 137.50 level, ahead of 137.00 level for today. Recoveries should remain contained by 138.40 strong static resistance, where sellers are expected to surge”.
EUR/JPY Levels
Spot is presently trading at 138.07, and next resistance can be seen at and 138.11 (Hourly 100 SMA and daily high). Support below can be found at 137.96 (Daily Open), 137.91 (Daily Low), 137.89 (Yesterday's Low), 137.85 (Monthly Low) and 137.85 (Weekly Low).