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10 Jun 2014
EUR/JPY bears set their eyes at 139.00 support
FXStreet (Moscow) - EUR/JPY dipped from the intraday high of 139.42 to the bespoke support of 139.00; the downside breakthrough is not out of the question as the bearish momentum is strong
Bad week start
EUR/JPY is on offer due to speculative selling triggered by broadband EUR bearish dynamic on Monday. Japanese Nikkei 225 ended morning in the red zone, unable to hold early gains, which added gloom to EUR/JPY picture. Later during the day investors might be interested in French and Italian industrial production data, though these reports are unlikely to become a game-changer for EUR/JPY. Risk sentiments and UST yields might have a greater impact on investors mood. Namely, higher yields on the back of improved US economy recovery expectations due to positive US retail sales data might put a floor under EUR/JPY slide. The nearest support is seen at 139.00, once it is broken, 138.60 will come into play. The upside may be limited by 139.50.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 139.58, with support below at 139.05, 138.73 and 138.20, with resistance above at 139.90, 140.43, and 140.75. Hourly Moving Averages are bearish with the 200SMA at 139.63 and the daily 20EMA at 139.56. Hourly RSI is bearish at 30.
Bad week start
EUR/JPY is on offer due to speculative selling triggered by broadband EUR bearish dynamic on Monday. Japanese Nikkei 225 ended morning in the red zone, unable to hold early gains, which added gloom to EUR/JPY picture. Later during the day investors might be interested in French and Italian industrial production data, though these reports are unlikely to become a game-changer for EUR/JPY. Risk sentiments and UST yields might have a greater impact on investors mood. Namely, higher yields on the back of improved US economy recovery expectations due to positive US retail sales data might put a floor under EUR/JPY slide. The nearest support is seen at 139.00, once it is broken, 138.60 will come into play. The upside may be limited by 139.50.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 139.58, with support below at 139.05, 138.73 and 138.20, with resistance above at 139.90, 140.43, and 140.75. Hourly Moving Averages are bearish with the 200SMA at 139.63 and the daily 20EMA at 139.56. Hourly RSI is bearish at 30.