10 Oct 2013
EUR/JPY rallying nicely off Wednesday’s lows; resistance just ahead at 132.25
The EUR/JPY remains in a well-defined short-term downtrend that started back on September 19th and that comes inro play at around 132.25.
EUR/JPY to react to data and global risk appetite
Thursday, EUR/JPY traders will get to react to the US political crisis once again as news flows on Thursday. Additionally, though, traders will have more data to digest – including the ECB Monthly Report and another speech by Mario Draghi.
Technical outlook for EUR/JPY
Technicians say that resistance for the cross comes in at the horizontal line of 132.25 - which is a downtrend line and is followed by 132.64 horizontal line resistance. Support for aspiring buyers is all the way down at 131.23.
EUR/JPY to react to data and global risk appetite
Thursday, EUR/JPY traders will get to react to the US political crisis once again as news flows on Thursday. Additionally, though, traders will have more data to digest – including the ECB Monthly Report and another speech by Mario Draghi.
Technical outlook for EUR/JPY
Technicians say that resistance for the cross comes in at the horizontal line of 132.25 - which is a downtrend line and is followed by 132.64 horizontal line resistance. Support for aspiring buyers is all the way down at 131.23.