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17 Mar 2014
EUR/JPY is above 141.00, bulls rejoice
FXStreet (Moscow) - EUR/JPYmoved above 141.00 level early in Asia after touching the current low at 140.80.
Draghi, Inflation and Euro
EUR/JPY is in difficult situation as JPY is growing on anti-risk sentiments, while EUR is under pressure due to dovish comments from ECB Governing Council members and their discomfort with rising euro. In this context, February Consumer Price Index in Eurozone met shed some light on further monetary policy developments. The CPI is expected to grow 0.4% m/m and 0.8% y/y after a dismal -1.1% m/m and 0.8% y/y . Weaker data may put additional pressure on the single currency as this will heighten the probability of ECB rate cut in nearest future. There are some interesting technical levels on the intraday basis. The resistance of 141.50 is still the key for the bulls. Once they are above, 141.80 will come into sight. The support is seen at 141.00 and then at current Asian lows at 140.80.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 141.00, with support below at 140.47, 139.91 and 139.38, with resistance above at 141.56, 142.09, and 142.65. Hourly Moving Averages are mostly bearish, with the 200SMA at 141.94 and the daily 20EMA at 141.22. Hourly RSI is neutral at 46.
Draghi, Inflation and Euro
EUR/JPY is in difficult situation as JPY is growing on anti-risk sentiments, while EUR is under pressure due to dovish comments from ECB Governing Council members and their discomfort with rising euro. In this context, February Consumer Price Index in Eurozone met shed some light on further monetary policy developments. The CPI is expected to grow 0.4% m/m and 0.8% y/y after a dismal -1.1% m/m and 0.8% y/y . Weaker data may put additional pressure on the single currency as this will heighten the probability of ECB rate cut in nearest future. There are some interesting technical levels on the intraday basis. The resistance of 141.50 is still the key for the bulls. Once they are above, 141.80 will come into sight. The support is seen at 141.00 and then at current Asian lows at 140.80.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 141.00, with support below at 140.47, 139.91 and 139.38, with resistance above at 141.56, 142.09, and 142.65. Hourly Moving Averages are mostly bearish, with the 200SMA at 141.94 and the daily 20EMA at 141.22. Hourly RSI is neutral at 46.