10 Mar 2015
EUR/JPY range-play expected – Varengold
FXStreet (Barcelona) - The Varengold Bank Research Team views that EUR/JPY might continue to trade sideways in the 136.66 – 130.25 range.
Key Quotes
“After touching the resistance level at 149.77, the bears took control over this currency pair and the EUR highly lost in value versus the JPY.”
“At the moment the pair is traded between its first resistance level at 136.66 and its first support level at 130.25.”
“According to the indicators, this sideward movement may hold for a while since the both levels seem hard to pass. A sideward movement between the first support and the first resistance line may therefore be likely over the course of the next trading sessions.”
“Support Levels around 130.25”
“Resistance Levels around 136.66, 140.31, 149.77”
Key Quotes
“After touching the resistance level at 149.77, the bears took control over this currency pair and the EUR highly lost in value versus the JPY.”
“At the moment the pair is traded between its first resistance level at 136.66 and its first support level at 130.25.”
“According to the indicators, this sideward movement may hold for a while since the both levels seem hard to pass. A sideward movement between the first support and the first resistance line may therefore be likely over the course of the next trading sessions.”
“Support Levels around 130.25”
“Resistance Levels around 136.66, 140.31, 149.77”