Back
31 Mar 2015
EUR/JPY might continue to move sideways – Varengold
FXStreet (Barcelona) - The Varengold Bank Research Team shares the technical outlook for EUR/JPY, expecting the pair to remain in the 127.34-136.66 range.
Key Quotes
“After touching the resistance level at 149.77, the bears took control over this currency pair and the EUR highly lost in value versus the JPY.”
“At the moment the pair is traded between its first resistance level at 136.66 and its first support level at 127.34, which we have already seen around 2 years ago.”
“According to the indicators, this sideward movement may hold for a while since the both levels seem hard to pass. A sideward movement between the first support and the first resistance line may therefore be likely over the course of the next trading sessions.”
Key Quotes
“After touching the resistance level at 149.77, the bears took control over this currency pair and the EUR highly lost in value versus the JPY.”
“At the moment the pair is traded between its first resistance level at 136.66 and its first support level at 127.34, which we have already seen around 2 years ago.”
“According to the indicators, this sideward movement may hold for a while since the both levels seem hard to pass. A sideward movement between the first support and the first resistance line may therefore be likely over the course of the next trading sessions.”