26 May 2014
EUR/JPY is sidelined with bearish bias
FXStreet (Moscow) - EUR/JPY feels the bearish pain as the cross started Monday at 138.94 and drifted lower to 138.84 on the back of ОЗЕ strengthening across the board.
Risk sentiments are the key
EUR/JPY dipped to weekly low at 138.13, but finished the week nearly unchanged. Doji on weekly charts suggests that the bearish sentiments are weakening and the cross may continue to oscillate within its recent range and return to 142.00. On the intraday basis the cross will be influenced бьщыедн by risk sentiments and geopolitical news, as EZ macroeconomic calendar is next to empty. Ukraine and EU elections results will be mulled over. Keep your ears open for comments from European and US officials as they may trigger a good deal of risk aversion. In this case EUR/JPY may dip to the nearest support at 138.60. Once it is broken, the downside will be extended to 138.40.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 138.89, with support below at 138.69, 138.40 and 138.20, with resistance above at 139.18, 139.38, and 139.67. Hourly Moving Averages are mostly neutral with the 200SMA at 139.13 and the daily 20EMA at 140.00. Hourly RSI is bearish at 48.
Risk sentiments are the key
EUR/JPY dipped to weekly low at 138.13, but finished the week nearly unchanged. Doji on weekly charts suggests that the bearish sentiments are weakening and the cross may continue to oscillate within its recent range and return to 142.00. On the intraday basis the cross will be influenced бьщыедн by risk sentiments and geopolitical news, as EZ macroeconomic calendar is next to empty. Ukraine and EU elections results will be mulled over. Keep your ears open for comments from European and US officials as they may trigger a good deal of risk aversion. In this case EUR/JPY may dip to the nearest support at 138.60. Once it is broken, the downside will be extended to 138.40.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 138.89, with support below at 138.69, 138.40 and 138.20, with resistance above at 139.18, 139.38, and 139.67. Hourly Moving Averages are mostly neutral with the 200SMA at 139.13 and the daily 20EMA at 140.00. Hourly RSI is bearish at 48.