Back
4 Jul 2014
EUR/JPY goes down the drain; 139.00 is left behind
FXStreet (Moscow) - EUR/JPY broke below 139.00 and extended losses to 138.81 during quiet Asian hours.
Bulls got tired
EUR/JPY has been climbing for four days in a row. Now it’s time to pause, to think everything over and event to take some profit. This is but natural, considering light microeconomic calendar and low liquidity conditions caused by US holidays. From the fundamental point of view we have only German Factory Orders to chew on, but this report is unlikely to trigger any meaningful market reaction. Technically, the cross is trying to go below minor support of 138.80, if it succeeds, the downside may be extended to 138.70. On the upside, the nearest resistance is 139.00 followed by 139.28/30
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 139.12, with support below at 138.93, 138.77 and 138.58, with resistance above at 139.28, 139.47, and 139.63. Hourly Moving Averages are mixed with the 200SMA at 138.65 and the daily 20EMA at 138.83. Hourly RSI is bearish at 48.
Bulls got tired
EUR/JPY has been climbing for four days in a row. Now it’s time to pause, to think everything over and event to take some profit. This is but natural, considering light microeconomic calendar and low liquidity conditions caused by US holidays. From the fundamental point of view we have only German Factory Orders to chew on, but this report is unlikely to trigger any meaningful market reaction. Technically, the cross is trying to go below minor support of 138.80, if it succeeds, the downside may be extended to 138.70. On the upside, the nearest resistance is 139.00 followed by 139.28/30
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 139.12, with support below at 138.93, 138.77 and 138.58, with resistance above at 139.28, 139.47, and 139.63. Hourly Moving Averages are mixed with the 200SMA at 138.65 and the daily 20EMA at 138.83. Hourly RSI is bearish at 48.