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16 Apr 2014
EUR/JPY is well above 141.00
FXStreet (Moscow) - EUR/JPY broke above 141.00 resistance as JPY is under selling pressure across the board.
Don’t miss EZ inflation numbers
EUR/JPY had a volatile day but finished Tuesday nearly unchanged. Technically, the doji that appeared on the daily charts indicates that EUR/JPY is nearing the turning point. Though we still need a confirmation to declare that the bulls stand ready to get the control over the situation. Today the cross is moving north, as Japanese officials comments supported the stock market rally and, consequently, put JPY under pressure. During European hours, the key calendar risk is the revised CPI data from Eurozone. Expect lots of volatility if the figures come out different from flash estimations. Higher than expected inflation will push EUR upwards across the board, while weak numbers will support the idea that the ECB will be forced to implement QE sooner than later. The intraday support level is seen at Asian lows of 140.62, while the upside will be limited by 141.60.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 140.65, with support below at 140.38, 139.96 and 139.68, with resistance above at 141.07, 141.34, and 141.76. Hourly Moving Averages are mostly bullish, with the 200SMA at 141.18 and the daily 20EMA is bearish at 141.32. Hourly RSI is bullish at 67.
Don’t miss EZ inflation numbers
EUR/JPY had a volatile day but finished Tuesday nearly unchanged. Technically, the doji that appeared on the daily charts indicates that EUR/JPY is nearing the turning point. Though we still need a confirmation to declare that the bulls stand ready to get the control over the situation. Today the cross is moving north, as Japanese officials comments supported the stock market rally and, consequently, put JPY under pressure. During European hours, the key calendar risk is the revised CPI data from Eurozone. Expect lots of volatility if the figures come out different from flash estimations. Higher than expected inflation will push EUR upwards across the board, while weak numbers will support the idea that the ECB will be forced to implement QE sooner than later. The intraday support level is seen at Asian lows of 140.62, while the upside will be limited by 141.60.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 140.65, with support below at 140.38, 139.96 and 139.68, with resistance above at 141.07, 141.34, and 141.76. Hourly Moving Averages are mostly bullish, with the 200SMA at 141.18 and the daily 20EMA is bearish at 141.32. Hourly RSI is bullish at 67.