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27 Feb 2014
EUR/JPY back in bullish territory on mid 139’s
FXStreet (Guatemala) - EUR/JPY has been one for traders wearing tin hats. The pair has been a roller-coaster from 140.20 smashing through supports and marking a low as deep as 138.80.
EUR/JPY is back onto the 139 handle, in fact spiking from 139.20 and onto 139.80. From the calendar we have seen a raft of German CPI data that has been bearish for the economy and will now bring back the concept that the ECB may need to act sooner than later. USD/JPY has been the driver to the upside for the pair.
EUR/JPY Levels
The 20 DMA is 139.40, the 50 DMA is 141.08 and the 200 DMA is 134.59. RSI (14) reads 42.74. Supports are ascending from 138.67, 138.96, 139.20. Spot is 139.73 while resistances are 140.29, 140.78, 141.04 and 141.29.
EUR/JPY is back onto the 139 handle, in fact spiking from 139.20 and onto 139.80. From the calendar we have seen a raft of German CPI data that has been bearish for the economy and will now bring back the concept that the ECB may need to act sooner than later. USD/JPY has been the driver to the upside for the pair.
EUR/JPY Levels
The 20 DMA is 139.40, the 50 DMA is 141.08 and the 200 DMA is 134.59. RSI (14) reads 42.74. Supports are ascending from 138.67, 138.96, 139.20. Spot is 139.73 while resistances are 140.29, 140.78, 141.04 and 141.29.