9 May 2014
EUR/JPY tries to take off from Asian lows of 140.50
FXStreet (Moscow) - EUR/JPY took off from the intraday low at 140.50 and reached current level of 140.70 during quiet Asian hours
Bears celebrate
EUR/JPY followed general EUR bearish pattern and finished Thursday nearly 100 pips lower. Now that the week is drawing to an end, we may see some profit taking, but the upside correction is likely to be limited by 141.00. New twists of geopolitical conflict in Ukraine may spice things up. On the downside keep an eye at 140.30.
What price levels and patterns have to be considered?
Resistance can be found ahead of spot at 140.69 [Last Price], 140.69 (Daily Open), 140.70 (Monthly Low), 140.70 (Weekly Low), 140.83 (Daily High) and 140.94 (Hourly 20 EMA).
Support below can be found at 140.53 (Daily Low), 140.53 (Yesterday's Low), 140.22 (Weekly Classic S2), 140.02 (Daily Classic S1) and 139.45 (Weekly Classic S3).
Bears celebrate
EUR/JPY followed general EUR bearish pattern and finished Thursday nearly 100 pips lower. Now that the week is drawing to an end, we may see some profit taking, but the upside correction is likely to be limited by 141.00. New twists of geopolitical conflict in Ukraine may spice things up. On the downside keep an eye at 140.30.
What price levels and patterns have to be considered?
Resistance can be found ahead of spot at 140.69 [Last Price], 140.69 (Daily Open), 140.70 (Monthly Low), 140.70 (Weekly Low), 140.83 (Daily High) and 140.94 (Hourly 20 EMA).
Support below can be found at 140.53 (Daily Low), 140.53 (Yesterday's Low), 140.22 (Weekly Classic S2), 140.02 (Daily Classic S1) and 139.45 (Weekly Classic S3).