18 Nov 2013
EUR/JPY losing momentum before 135.30
FXstreet.com (Chicago) - EUR/JPY stalls before reaching the 135.44 resistance (double tops with last October 30th highs and October 22nd highs). So far, the pair leaves the upward trendline (November 7th origins) intact after a strong rally throughout last week.
Account balance results with little price action effect are due later on in Europe. Among important data facts are manufacturing results and the ZEW survey facts. In Japan, no releases are expected.
EUR/JPY Technical Levels
Technically speaking, the pair is trading close to last month’s highs (double tops pattern) indicating strong resistance around the 135.40 area. Offered at 135.27, the pair oscillates between the supports aligned at 134.78 (September 20th highs), 134.24 (October 27th lows) ahead of 133.74 (November 6th highs) and the resistances set at 135.44 (October 22nd highs), 135.94 (November 8th 2009 highs) followed by 137.17 (February 3rd 2009 highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish navigating above the EMA20.
Account balance results with little price action effect are due later on in Europe. Among important data facts are manufacturing results and the ZEW survey facts. In Japan, no releases are expected.
EUR/JPY Technical Levels
Technically speaking, the pair is trading close to last month’s highs (double tops pattern) indicating strong resistance around the 135.40 area. Offered at 135.27, the pair oscillates between the supports aligned at 134.78 (September 20th highs), 134.24 (October 27th lows) ahead of 133.74 (November 6th highs) and the resistances set at 135.44 (October 22nd highs), 135.94 (November 8th 2009 highs) followed by 137.17 (February 3rd 2009 highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish navigating above the EMA20.