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29 Jan 2014
Alas, EUR/JPY failed to hold ground above 141.00
FXstreet.com (Moscow) - EUR/JPY is back below 141.00 after an attempt to conquer new highs at 141.24.
EUR/JPY is not ready for big moves yet
EUR/JPY switched to consolidation mode with bullish bias again. The cross rebounded from the support of 140.50, but failed to leave the broad range, limited by 141.00 on the upside. Though don’t fall into despair. Today we might get some excitement as the FED announces its monetary policy decision. The cross reaction will be formed by JPY dynamics. Further tapering might lend the support to the dollar and put JPY under pressure across the board. In this case EUR/JPY will move upwards. If 141.00 is clearly out of the way, the cross will accelerate to current intraday highs at 141.24, and then to 141.70. The downside will be limited by 140.00.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 140.59, with support below at 140.17, 139.73 and 139.31, with resistance above at 141.04, 141.46, and 141.90. Hourly Moving Averages are mixed, with the 200SMA at 141.16 and the daily 20EMA at 141.48. Hourly RSI is neutral at 55.
EUR/JPY is not ready for big moves yet
EUR/JPY switched to consolidation mode with bullish bias again. The cross rebounded from the support of 140.50, but failed to leave the broad range, limited by 141.00 on the upside. Though don’t fall into despair. Today we might get some excitement as the FED announces its monetary policy decision. The cross reaction will be formed by JPY dynamics. Further tapering might lend the support to the dollar and put JPY under pressure across the board. In this case EUR/JPY will move upwards. If 141.00 is clearly out of the way, the cross will accelerate to current intraday highs at 141.24, and then to 141.70. The downside will be limited by 140.00.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 140.59, with support below at 140.17, 139.73 and 139.31, with resistance above at 141.04, 141.46, and 141.90. Hourly Moving Averages are mixed, with the 200SMA at 141.16 and the daily 20EMA at 141.48. Hourly RSI is neutral at 55.