Forex: EUR/JPY testing 100-hour SMA
Forex pairs in this Article »
EUR/JPY
FXstreet.com (Córdoba) - As most crosses in the FX market, EURJPY has been trading inside a slim range on Monday in the absence of economic indicators or news and amid thin volume exacerbated with UK markets closed.
Having found support at the 98.30 area, EURJPY managed to bounce despite a worse than expected German IFO report, but the recovery was capped by the 100-hour SMA at 98.60, confining the cross to a consolidative phase.
At time of writing, the pair is trading at 98.50, little changed since opening. In terms of technical levels, the Mataf.net team locates next resistances at 98.60, 98.80 and 99.20, while they place supports at 98.45, 98.30 and 97.95.
Having found support at the 98.30 area, EURJPY managed to bounce despite a worse than expected German IFO report, but the recovery was capped by the 100-hour SMA at 98.60, confining the cross to a consolidative phase.
At time of writing, the pair is trading at 98.50, little changed since opening. In terms of technical levels, the Mataf.net team locates next resistances at 98.60, 98.80 and 99.20, while they place supports at 98.45, 98.30 and 97.95.
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