2 Dec 2013
EUR/JPY to probe 140.00?
FXstreet.com (London) - EUR/JPY has reached a high of 139.73 on the session and the support 139.20 is holding the pair in the handle.
EUR/JPY held steady on Friday and starts this week well placed to continue to probe 140.30/141.00, the 61.8% retracement of the move down from 2008, represents tough overhead resistance. “We are alert to the idea of the market failing between current price and the 141.00 zone. We note the 13 count on the daily chart and the TD resistance at 140.30 and would now recommend exiting longs. The market is viewed as bid while above 136.81, the accelerated uptrend”.
EUR/JPY Levels
The 20 DMA is 135.23, the 50 DMA is 134.10 and 200 DMA is 130.01. RSI (14) reads 58.53. Supports are ascending from 137.68, 137.98, 138.27, 138.98 and 139.20. Spot is currently 139.52 with resistances 139.75, 140.00, 140.90 and 140.99.
EUR/JPY held steady on Friday and starts this week well placed to continue to probe 140.30/141.00, the 61.8% retracement of the move down from 2008, represents tough overhead resistance. “We are alert to the idea of the market failing between current price and the 141.00 zone. We note the 13 count on the daily chart and the TD resistance at 140.30 and would now recommend exiting longs. The market is viewed as bid while above 136.81, the accelerated uptrend”.
EUR/JPY Levels
The 20 DMA is 135.23, the 50 DMA is 134.10 and 200 DMA is 130.01. RSI (14) reads 58.53. Supports are ascending from 137.68, 137.98, 138.27, 138.98 and 139.20. Spot is currently 139.52 with resistances 139.75, 140.00, 140.90 and 140.99.