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28 Feb 2014
EUR/JPY is under selling pressure: 139.40 support is within a whisker
FXStreet (Moscow) - EUR/JPY is in decline as the cross set the current low at 139.46 and the selling pressure is still strong
EUR/JPY is sensitive to anti-risk sentiments
EUR/JPY finished Thursday in the red zone and that was the fourth negative day in a row. The cross tested area below 139.00 and set the intraday low at 138.78, but managed to return to 139.92 on general Euro strength into the end of the day. On Friday, after a short period of consolidation just below the support of 140.00 enhanced by 1h 50 EMA the cross resumed its short-term downside trend. The current low is set at 139.46 and the bears are not going to stop. Yen has lots of incentives to grow: anti-risk sentiments amid geopolitical fears and positive inflation in Japan to name just a few. It means that the cross may continue its downside quest during the European session. Eurozone CPI numbers published later today will hardly be able to inspire Euro-optimism. From the technical point of view the support comes at 139.40 and followed by 100-day MA at 138.78. The resistance is seen at 139.70 and followed by 140.00
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 139.68, with support below at 139.11, 138.22 and 137.65, with resistance above at 140.57, 141.14, and 142.03. Hourly Moving Averages are bearish, with the 200SMA at 140.39 and the daily 20EMA at 140.08. Hourly RSI is neutral at 46.
EUR/JPY is sensitive to anti-risk sentiments
EUR/JPY finished Thursday in the red zone and that was the fourth negative day in a row. The cross tested area below 139.00 and set the intraday low at 138.78, but managed to return to 139.92 on general Euro strength into the end of the day. On Friday, after a short period of consolidation just below the support of 140.00 enhanced by 1h 50 EMA the cross resumed its short-term downside trend. The current low is set at 139.46 and the bears are not going to stop. Yen has lots of incentives to grow: anti-risk sentiments amid geopolitical fears and positive inflation in Japan to name just a few. It means that the cross may continue its downside quest during the European session. Eurozone CPI numbers published later today will hardly be able to inspire Euro-optimism. From the technical point of view the support comes at 139.40 and followed by 100-day MA at 138.78. The resistance is seen at 139.70 and followed by 140.00
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 139.68, with support below at 139.11, 138.22 and 137.65, with resistance above at 140.57, 141.14, and 142.03. Hourly Moving Averages are bearish, with the 200SMA at 140.39 and the daily 20EMA at 140.08. Hourly RSI is neutral at 46.