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Forex pairs in this Article » EUR/USD, USD/JPY
FXStreet (Moscow) - EUR/JPY is consolidating with a slight bullish momentum as the cross opened at 140.35 and drifted to the current Asian highs at 140.66.

EUR/JPY’s fate depends on technical factors

EUR/JPY dropped to intraday lows of 139.20 in early European hours on Thursday as German published very disappointing flash PMI, though the bears lost the initiative and the cross returned in the area above 140.00 on the back USD/JPY demand. As there are no interesting macroeconomic events scheduled for today, the cross movements will be shaped by technical factors and position adjustment ahead of the weekend. General risk sentiments and stock market dynamic might also influence traders’ sentiments. The closest support comes at 140.27 (1h 50 EMA), though the intraday momentum is considered to be bullish as long as EUR/JPY is above 140.00. The drop below this level will darken the short-term technical picture and push the cross all the way down to 139.50. The upside is likely to be limited by 141.00.

What are today’s key EUR/JPY levels?

Today's central pivot point can be found at 140.06, with support below at 139.48, 138.62 and 138.04, with resistance above at 140.93, 141.51, and 142.38. Hourly Moving Averages are bullish, with the 200SMA at 139.88 and the daily 20EMA at 139.89. Hourly RSI is neutral at 59.
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