16 Jan 2014
EUR/JPY is holding ground above 142.50
FXstreet.com (Moscow) - The EUR/JPY is pressed higher as it started the day at 142.25 and moved all the way to 142.85.
EUR/JPY is aiming at 143.00
EUR/JPY continued to move higher due to the broad based yen weakening. The bulls now have 143.00 resistance in sight. It was pretty strong as the cross made several failed attempts to go past it during the previous week. Nikkei opened in green, which is yen-negative as the currency is in backward correlation with the stock market. Though this is hardly enough to push the cross above the important resistance. Keep an eye at the European publications, namely, the final CPI that is expected to come out at 0.9% against 0.7% in November. The single currency may gain support if it exceeds expectations, while weaker data will raise the deflation fears and drive the Euro-crosses lower. To the downside, the intraday correction is likely to be limited to 142.28-142.00 area (the former level is reinforced by 4h 50EMA).
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 142.26, with support below at 141.85, 140.39 and 140.99, with resistance above at 142.72, 143.12, and 143.58. Hourly Moving Averages are bullish, with the 200SMA at 142.17 and the daily 20EMA at 142.26. Hourly RSI is neutral at 67.76.
EUR/JPY is aiming at 143.00
EUR/JPY continued to move higher due to the broad based yen weakening. The bulls now have 143.00 resistance in sight. It was pretty strong as the cross made several failed attempts to go past it during the previous week. Nikkei opened in green, which is yen-negative as the currency is in backward correlation with the stock market. Though this is hardly enough to push the cross above the important resistance. Keep an eye at the European publications, namely, the final CPI that is expected to come out at 0.9% against 0.7% in November. The single currency may gain support if it exceeds expectations, while weaker data will raise the deflation fears and drive the Euro-crosses lower. To the downside, the intraday correction is likely to be limited to 142.28-142.00 area (the former level is reinforced by 4h 50EMA).
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 142.26, with support below at 141.85, 140.39 and 140.99, with resistance above at 142.72, 143.12, and 143.58. Hourly Moving Averages are bullish, with the 200SMA at 142.17 and the daily 20EMA at 142.26. Hourly RSI is neutral at 67.76.