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Forex pairs in this Article » USD/JPY (Moscow) - EUR/JPY resumed growth Tuesday morning after a deep fall yesterday, the cross moved above the resistance of 141.00 and set the intraday high at 141.47.

EUR/JPY bulls are on the alert

EUR/JPY finally escaped from its tight range to the downside. Generally, long consolidation turns into violent move once the range is broken. That is exactly what happened to EUR/JPY. The bearish sentiment looks very convincing and the cross may continue to correct lower. The Japanese trade balance data, published earlier today, helped to temper the bearish rally as it showed that the trade deficit increased to 1254b. yen in November form 1091.9b. yen in October (against forecasted 1236b. yen). This is bad news for the export-otiented economic in Japan, that caused upside correction in EUR/JPY during Asian session today. The cross recovered above the important resistance area of 141.00. Though, don’t be fooled. Wait to the US retail sales report published later today. It may change the JPY fortunes once again, if the data fails to live up to the market expectation.

What are today’s key EUR/JPY levels?

Today's central pivot point can be found at 141.22, with support below at 104.07, 139.35 and 138.20, with resistance above at 141.94, 143.09, and 143.81. Hourly Moving Averages are mixed, with the 200SMA at 142.58 and the daily 20EMA at 142.22. Hourly RSI is neutral at 54.76.
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