9 Jul 2014
EUR/JPY has settled at 138.35, off Asian lows
FXStreet (Moscow) - EUR/JPY has recovered from Asian low of 138.13 and managed to climb to 138.35 on the back of technical rebound.
Some upside correction in store?
EUR/JPY is getting closer to the short-term downside trendline of July, 7 (currently at 138.36). Once it is broken, the cross might extend the upside to 138.50 and then to 138.60. The short-term bottom has been formed at 138.15/10, thus this area is likely to cap the downside for some time. From the fundamental point of view, EUR/JPY is influenced by risk sentiments and broad EUR dynamics. There are no important reports scheduled for today, so keep an eye at stock market developments.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 138.35, with support below at 138.03, 137.79 and 137.47, with resistance above at 138.58, 138.90, and 139.14. Hourly Moving Averages are mixed with the 200SMA at 138.65 and the daily 20EMA at 138.75. Hourly RSI is bullish at 53.
Some upside correction in store?
EUR/JPY is getting closer to the short-term downside trendline of July, 7 (currently at 138.36). Once it is broken, the cross might extend the upside to 138.50 and then to 138.60. The short-term bottom has been formed at 138.15/10, thus this area is likely to cap the downside for some time. From the fundamental point of view, EUR/JPY is influenced by risk sentiments and broad EUR dynamics. There are no important reports scheduled for today, so keep an eye at stock market developments.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 138.35, with support below at 138.03, 137.79 and 137.47, with resistance above at 138.58, 138.90, and 139.14. Hourly Moving Averages are mixed with the 200SMA at 138.65 and the daily 20EMA at 138.75. Hourly RSI is bullish at 53.