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18 Feb 2014
EUR/JPY claiming higher territory towards 141.00
FXStreet (Guatemala) - EUR/JPY remains in positive territory post the run up from 139.60 when it made a high through 141.00 momentarily, dropping onto the 140.70 territory where the pair currently oscillates.
Karen Jones, cheif analyst for Commerzbank noted that the EUR/JPY eroded this 6-week downtrend at 139.89 and shot higher. She explained that the initial resistance lies at 140.97/141.26, noting this as the the 50% retracement and 29th January high, “We suspect it may struggle here near term. This is the break up point to 142.41/57 the 23rd January high support and the top of the cloud. Support is found at the 20 day ma at 139.42 ahead of the base of its cloud at 138.45. While above here we will assume a short term upside bias”.
EUR/JPY Levels
The 20 DMA is 139.42, the 50 141.24 and the 200 DMA is 134.29. RSI (14) 70.13. Supports are 138.17, 138.64, 138.96, 139.42/51. Spot is 140.85 with resistances at 140.96, 141.26, 141.77 and 141.96.
Karen Jones, cheif analyst for Commerzbank noted that the EUR/JPY eroded this 6-week downtrend at 139.89 and shot higher. She explained that the initial resistance lies at 140.97/141.26, noting this as the the 50% retracement and 29th January high, “We suspect it may struggle here near term. This is the break up point to 142.41/57 the 23rd January high support and the top of the cloud. Support is found at the 20 day ma at 139.42 ahead of the base of its cloud at 138.45. While above here we will assume a short term upside bias”.
EUR/JPY Levels
The 20 DMA is 139.42, the 50 141.24 and the 200 DMA is 134.29. RSI (14) 70.13. Supports are 138.17, 138.64, 138.96, 139.42/51. Spot is 140.85 with resistances at 140.96, 141.26, 141.77 and 141.96.