28 Jul 2014
EUR/JPY finds opening level too cozy to leave it
FXStreet (Moscow) - EUR/JPY has frozen to the opening level at 136.70 as traders are at a loss, waiting for key risk events of the week
Nothing ventured, nothing gain
EUR/JPY has been declining for the third week in a row on the back of overall bearish sentiments towards EUR. Feeble Thursday attempts to recover on the back of JPY weakening across the board proved to be short-lived, which means that some period of consolidation between 137.00 resistance and multi-month lows at 136.36 might be in store for us. On the intraday basis expect no fireworks as dull macroeconomic calendar and indecisive technical picture will hardly be able to inspire traders to make hard and fast decisions ahead of the key risk events of the week.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 136.89, with support below at 136.51, 136.26 and 135.88, with resistance above at 137.14, 137.52, and 137.77. Hourly Moving Averages are bearish with the 200SMA bearish at 137.07 and the daily 20EMA bearish at 137.63. Hourly RSI is bearish at 40.
Nothing ventured, nothing gain
EUR/JPY has been declining for the third week in a row on the back of overall bearish sentiments towards EUR. Feeble Thursday attempts to recover on the back of JPY weakening across the board proved to be short-lived, which means that some period of consolidation between 137.00 resistance and multi-month lows at 136.36 might be in store for us. On the intraday basis expect no fireworks as dull macroeconomic calendar and indecisive technical picture will hardly be able to inspire traders to make hard and fast decisions ahead of the key risk events of the week.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 136.89, with support below at 136.51, 136.26 and 135.88, with resistance above at 137.14, 137.52, and 137.77. Hourly Moving Averages are bearish with the 200SMA bearish at 137.07 and the daily 20EMA bearish at 137.63. Hourly RSI is bearish at 40.