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12 Mar 2014
EUR/JPY rebounded from intraday low of 142.37
FXStreet (Moscow) - EUR/JPY is trying to rebound after a sharp drop below 143.00 on Tuesday; the cross came off the Asian lows at 142.37 and reached the current level of 142.68.
EUR/JPY is a technical play on Wednesday
EUR/JPY has been deaf to fundamental news, but very sensitive to technical aspects lately. The cross movements are shaped by general JPY sentiments across the board. There is nothing interesting on the European calendar today except Eurozone Industrial Production in January. It is expected that the IP has grown 0.6% m/m, 1.9% y/y against -0.7% m/m, 0.5% y/y in December. Good numbers may support EUR across the board, but investors will hardly get too excited about them to push the single currency much higher. There are a number of speakers out today, so be careful as an accidental phrase may change the market mood. Also follow closely the risk sentiments as they are of great influence today. On the intraday basis keep an eye at the support level of 142.40 followed by 142.00, and the resistance level 142.90/00 followed by 143.20.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 142.95, with support below at 142.44, 142.10 and 141.59, with resistance above at 143.29, 143.80, and 144.14. Hourly Moving Averages are mixed, with the 200SMA at 141.32 and the daily 20EMA at 141.08. Hourly RSI is neutral at 41.
EUR/JPY is a technical play on Wednesday
EUR/JPY has been deaf to fundamental news, but very sensitive to technical aspects lately. The cross movements are shaped by general JPY sentiments across the board. There is nothing interesting on the European calendar today except Eurozone Industrial Production in January. It is expected that the IP has grown 0.6% m/m, 1.9% y/y against -0.7% m/m, 0.5% y/y in December. Good numbers may support EUR across the board, but investors will hardly get too excited about them to push the single currency much higher. There are a number of speakers out today, so be careful as an accidental phrase may change the market mood. Also follow closely the risk sentiments as they are of great influence today. On the intraday basis keep an eye at the support level of 142.40 followed by 142.00, and the resistance level 142.90/00 followed by 143.20.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 142.95, with support below at 142.44, 142.10 and 141.59, with resistance above at 143.29, 143.80, and 144.14. Hourly Moving Averages are mixed, with the 200SMA at 141.32 and the daily 20EMA at 141.08. Hourly RSI is neutral at 41.