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19 Jun 2013
EUR/JPY capped below 128.00
FXstreet.com (Barcelona) - EUR/JPY is last trading at 127.80, off early NY session fresh weekly highs at 128.08. The cross is up +1.10% from previous Asia-Pacific open yesterday, and +1.78% higher for the week so far.
Yen showing sings of weakness
According to Valeria Bednarik, Chief Analyst at Fxstreet.com: “The hourly chart shows price well above a still bearish 100 SMA and limited by the 200 one, while indicators stand in positive territory,” adding: “Overall, steady gains above 128.10 may favor an advance towards 128.80 area, that probe strong in the past. Only steady gains above it will put the pair closer to the bullish path,” Bednarick concludes.
Key technical levels
The analyst finds support levels at: 127.40, 126.90 and 126.30, while resistance levels at: 128.10, 128.40 and 128.80.
Yen showing sings of weakness
According to Valeria Bednarik, Chief Analyst at Fxstreet.com: “The hourly chart shows price well above a still bearish 100 SMA and limited by the 200 one, while indicators stand in positive territory,” adding: “Overall, steady gains above 128.10 may favor an advance towards 128.80 area, that probe strong in the past. Only steady gains above it will put the pair closer to the bullish path,” Bednarick concludes.
Key technical levels
The analyst finds support levels at: 127.40, 126.90 and 126.30, while resistance levels at: 128.10, 128.40 and 128.80.