Filed Under:
Forex pairs in this Article » EUR/USD, USD/JPY (Moscow) - EUR/JPY has moved slightly down after the amazing run on Tuesday, but it still holds above the key support of 142.00 with the intraday high at 142.62

EUR/JPY is back above 142.00

EUR/JPY has moved higher due to the broad based yen weakening. Obviously, the bulls are scheming the run above 142.50, the top of the tight range of the previous week. Technically it is quite possible as the overall short-term yen sentiment is deeply bearish. The US retail sales data came out better than expected on Tuesday and helped to improve the risk environment. Generally, this is yen-negative as the investors seek better returns in higher-yielding currencies. Also keep an eye at the European publications, namely the German n.s.a GDP and Eurozone trade balance. Though we do not expect them to trigger large market movements, but positive numbers may support EUR bulls across the board. To the downside, the intraday correction is likely to be limited to 142.00-141.87 area (the later level is reinforced by hourly 50EMA).

What are today’s key EUR/JPY levels?

Today's central pivot point can be found at 141.96, with support below at 141.31, 140.04 and 139.39, with resistance above at 143.23, 143.88, and 145.15. Hourly Moving Averages are mostly bullish, with the 200SMA at 142.24 and the daily 20EMA at 142.25. Hourly RSI is neutral at 60.54.
comments powered by Disqus