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27 Mar 2014
EUR/JPY plans another trip to the South
FXStreet (Moscow) - EUR/JPY rebounded to 140.68 after touching the intraday low at 140.31, but the upside dynamics was not sustained; currently the cross is trading at 140.51
EUR/JPY is bound to fall
EUR/JPY dropped to current intraday lows at 140.31 as investors are still nervous about possible geopolitical escalations, though the strong support level coupled with 100-day MA held, which triggered the upside correction of the cross. News that the IMF agreed to provide the financial aid to Ukraine in the amount of $14-18 bin helped to ease the fears that deep recession and default of the Ukraine will have dire knock on effect on the European economy. Though, both the relief and EUR/JPY upside are going to be short-lived.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 140.89, with support below at 140.24, 139.85 and 139.20, with resistance above at 141.27, 141.92, and 142.31. Hourly Moving Averages are bearish, with the 200SMA at 141.18 and the daily 20EMA at 141.23. Hourly RSI is neutral at 43.
EUR/JPY is bound to fall
EUR/JPY dropped to current intraday lows at 140.31 as investors are still nervous about possible geopolitical escalations, though the strong support level coupled with 100-day MA held, which triggered the upside correction of the cross. News that the IMF agreed to provide the financial aid to Ukraine in the amount of $14-18 bin helped to ease the fears that deep recession and default of the Ukraine will have dire knock on effect on the European economy. Though, both the relief and EUR/JPY upside are going to be short-lived.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 140.89, with support below at 140.24, 139.85 and 139.20, with resistance above at 141.27, 141.92, and 142.31. Hourly Moving Averages are bearish, with the 200SMA at 141.18 and the daily 20EMA at 141.23. Hourly RSI is neutral at 43.