Filed Under:
Forex pairs in this Article » EUR/USD (Moscow) - EUR/JPY is consolidating in a tight range at the support level of 142.00 after opening at 142.02.

EUR/JPY doesn't know where to go

EUR/JPY is sleeping in a narrow range during the Asian session after Thursday’s run lower. The cross came under pressure on the background of the broad based EUR-selling triggered by better than expected USD Philadelphia FED Index. From the fundamental perspective, the Japanese consumer confidence index is the key event risk for EUR/JPY. Better numbers may inspire the yen buying and push the cross lower during the day. There are no significant reports published in Europe today, so the JPY sentiment will probably dominate the EUR/JPY movements. Also keep an eye at the US Industrial production data as it may have a knock-on effect on the cross. As long as it stays below 142.00 the bearish sentiments will prevail. The nearest support comes at 141.48 (the previous week’s low). The move above 142.00 will say that the consolidation phase is not over yet.

What are today’s key EUR/JPY levels?

Today's central pivot point can be found at 142.23, with support below at 141.53, 140.99 and 140.29, with resistance above at 142.77, 143.47, and 144.01. Hourly Moving Averages are mixed, with the 200SMA at 142.18 and the daily 20EMA at 142.24. Hourly RSI is neutral at 45.89.
comments powered by Disqus