3 Jan 2014
EUR/JPY benefits on profit taking
FXstreet.com (London) - The Yen was heavily bid over night in Asia on profit taking and took EUR/JPY through stops and the 143.00 supporting territory.
EUR/JPY had been consolidating between 142.40/60 since the move from 144.60 but lines were opened up to the figure on a bout of supply to 142.00 where bids have been attracted. 141.20 would be next key target to the downside should the less committed bulls give way to the downside.
EUR/JPY Levels
The 20 DMA is 142.50, the 50 DMA is 138.25 and the 200 DMA is 132.25. RSI (14) reads 34.03. Supports are 141.20, 141.80 and 142.00. Spot is currently 142.09. Key resistance is 142.84.
EUR/JPY had been consolidating between 142.40/60 since the move from 144.60 but lines were opened up to the figure on a bout of supply to 142.00 where bids have been attracted. 141.20 would be next key target to the downside should the less committed bulls give way to the downside.
EUR/JPY Levels
The 20 DMA is 142.50, the 50 DMA is 138.25 and the 200 DMA is 132.25. RSI (14) reads 34.03. Supports are 141.20, 141.80 and 142.00. Spot is currently 142.09. Key resistance is 142.84.