19 Aug 2015
EUR/JPY upside supported on FOMC minutes
FXStreet (Guatemala) - EUR/JPY is currently trading at 137.75 with a high of 137.85 and a low of 137.06.
EUR/JPY has spiked along with EUR/USD surging strongly higher through the 1.11 handle while USD/JPY has dropped but struggling with two supporting levels that are allowing the cross the advantage of the upside. The catalyst has come with the FOMC minutes that were not supportive of a Fed hike as soon as September with conditions not appropriate enough yet, supporting a rally in the euro.
EUR/JPY remains in bearish 138.80 channel
EUR/JPY remains offered within the 138.80 downtrend and 138.40 is required to test the downsides resilience, leaving the downside in place while targeting the 200 day moving average at 136.91. A break of 135.00 level would open up the possibility of a slide to key support at 133.30/10, the lows seen since May.
EUR/JPY has spiked along with EUR/USD surging strongly higher through the 1.11 handle while USD/JPY has dropped but struggling with two supporting levels that are allowing the cross the advantage of the upside. The catalyst has come with the FOMC minutes that were not supportive of a Fed hike as soon as September with conditions not appropriate enough yet, supporting a rally in the euro.
EUR/JPY remains in bearish 138.80 channel
EUR/JPY remains offered within the 138.80 downtrend and 138.40 is required to test the downsides resilience, leaving the downside in place while targeting the 200 day moving average at 136.91. A break of 135.00 level would open up the possibility of a slide to key support at 133.30/10, the lows seen since May.