8 Nov 2013
EUR/JPY regains the 132.00 handle for closing?
FXstreet.com (London) - EUR/JPY has managed to regain the 132.00 handle ahead of the end of the week, after hurting by some two big figures when the ECB made an aggressive move.
Karen Jones, chief analyst at Commerzbank noted EUR/JPY eroded the 132.01 uptrend. “What we need to see is a close below here today as this would register on the weekly chart and complete the bearish rising wedge pattern (favoured). Intraday rallies will find good interim resistance at 132.35, 133.70. The next break down point is the 131.15 October low”.
EUR/JPY Levels
The 20 DMA is 133.82, the 50 DMA is 132.91 and the 200 DMA is 129.16. RSI (14) reads 33.06. Supports are ascending from 130.64, 130.99, 131.15, 131.22, 131.59 and 131.90. Spot is 132.37 while resistances are 132.71 and 133.27.
Karen Jones, chief analyst at Commerzbank noted EUR/JPY eroded the 132.01 uptrend. “What we need to see is a close below here today as this would register on the weekly chart and complete the bearish rising wedge pattern (favoured). Intraday rallies will find good interim resistance at 132.35, 133.70. The next break down point is the 131.15 October low”.
EUR/JPY Levels
The 20 DMA is 133.82, the 50 DMA is 132.91 and the 200 DMA is 129.16. RSI (14) reads 33.06. Supports are ascending from 130.64, 130.99, 131.15, 131.22, 131.59 and 131.90. Spot is 132.37 while resistances are 132.71 and 133.27.