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18 Sep 2013
EUR/JPY easing back below 132.50
FXstreet.com (Barcelona) - The EUR/JPY foreign exchange cross rate is currently trading at 132.49 off recent session highs at 132.60 while Nikkei index is still trading near session highs above the 14500 points mark, up +1.8% for the day so far.
EUR/JPY still lacking strength
“The hourly chart shows price now above its 100 SMA and indicators holding in positive territory, still lacking strength,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “In the 4 hours chart technical readings present a quite neutral stance, yet the upside remains favored in the short term, with a buoyed EUR and a JPY in selling mode. Nevertheless, the pair needs to accelerate beyond the 132.60 highs to be able to test recent highs around 133.40.”
EUR/JPY key technical levels
Bednarik finds support levels at: 132.00, 131.60 and 131.20, while resistance levels at: 132.60, 133.00 and 133.45.
EUR/JPY still lacking strength
“The hourly chart shows price now above its 100 SMA and indicators holding in positive territory, still lacking strength,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “In the 4 hours chart technical readings present a quite neutral stance, yet the upside remains favored in the short term, with a buoyed EUR and a JPY in selling mode. Nevertheless, the pair needs to accelerate beyond the 132.60 highs to be able to test recent highs around 133.40.”
EUR/JPY key technical levels
Bednarik finds support levels at: 132.00, 131.60 and 131.20, while resistance levels at: 132.60, 133.00 and 133.45.