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Forex pairs in this Article » USD/JPY (Moscow) - EUR/JPY started the day on a positive note and poked the resistance of 141.70, but the bulls got tired and let the cross fall to 141.40

EUR/JPY continue groping in the dark

Bank of Japan monetary policy decision failed to impress EUR/JPY traders as the cross seem to have freezed into its tight range. Is there anything that might push it either way? Today the European flash PMIs will be in focus though they hardly fit the role of powerful triggers. According to the forecast the indices will show further signs of improvement in both service and manufacturing segments of the European economy. Positive data will support the EUR across the board, but it is unlikely to spur life changing movements in EUR/JPY. The series of higher lows on the hourly chart adds bullish colors to the the short-term picture, but the cross needs to go through 142.00 to confirm the upside dynamic.

What are today’s key EUR/JPY levels?

Today's central pivot point can be found at 141.50, with support below at 141.14, 140.70 and 140.34, with resistance above at 141.94, 142.30, and 142.74. Hourly Moving Averages are bullish, with the 200SMA at 141.69 and the daily 20EMA at 141.96. Hourly RSI is neutral at 55.
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