Back
9 Jan 2015
EUR/JPY making hard work of R1 at 141.35
FXStreet (Guatemala) - EUR/JPY is sidelined between the greenback with weakness coming in both the euro and the Yen, currently trading at 141.28 and meeting R1 resistance at 141.35.
The euro has been shunned ahead of the next ECB meeting, 22nd Jan, while market participants hang onto all the noise surrounding the ECB's intentions in respect of QE while the Yen benefits from risk off play, although the USD/JPY is trading back away from the depths of eh channel and targets are set again for an advance n to the 120 handle with Dec highs lined up at 121.85.
The cross harbours a bearish tone below 142.00 still while the greenback isn't exactly making light work of the upside. Support to the downside is evident around the 141.00 mark and 140.70. Resistance comes at 141.35 as the extension of the Sep 2014 rally ahead of 141.70/80 and 142.00.
The euro has been shunned ahead of the next ECB meeting, 22nd Jan, while market participants hang onto all the noise surrounding the ECB's intentions in respect of QE while the Yen benefits from risk off play, although the USD/JPY is trading back away from the depths of eh channel and targets are set again for an advance n to the 120 handle with Dec highs lined up at 121.85.
The cross harbours a bearish tone below 142.00 still while the greenback isn't exactly making light work of the upside. Support to the downside is evident around the 141.00 mark and 140.70. Resistance comes at 141.35 as the extension of the Sep 2014 rally ahead of 141.70/80 and 142.00.