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3 Jun 2014
EUR/JPY is lethargic at 139.25
FXStreet (Moscow) - EUR/JPY has died somewhere at the opening level of 139.25 as the market is getting ready for a busy macroeconomic day
Looking at the brighter sight of life
EUR/JPY followed the lead of USD/JPY and staged a pretty good recovery on Monday. The cross settled well above the pivotal level of 139.00 and started Tuesday with a consolidation in a very narrow range close to its opening level of 139.25. Japanese labour cash earnings report, published in the morning, came out better than expected, but failed to impress investors as they are are focused on RBA monetary pocky decision and Eurozone inflation numbers that may trigger a good deal of volatility in EUR crosses ahead of Thursdays’s ECB meeting. The market has already priced in some kind policy easing, so hints of positive price movements might make them feel uneasy and trigger EUR upside correction. In this case 139.50 is regarded as the first bullish hurdle, while the support is seen at 139.00.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 139.07, with support below at 138.80, 138.39 and 138.12, with resistance above at 139.48, 139.75, and 140.12. Hourly Moving Averages are bullish with the 200SMA at 138.79 and the daily 20EMA at 139.47. Hourly RSI is bullish at 67.
Looking at the brighter sight of life
EUR/JPY followed the lead of USD/JPY and staged a pretty good recovery on Monday. The cross settled well above the pivotal level of 139.00 and started Tuesday with a consolidation in a very narrow range close to its opening level of 139.25. Japanese labour cash earnings report, published in the morning, came out better than expected, but failed to impress investors as they are are focused on RBA monetary pocky decision and Eurozone inflation numbers that may trigger a good deal of volatility in EUR crosses ahead of Thursdays’s ECB meeting. The market has already priced in some kind policy easing, so hints of positive price movements might make them feel uneasy and trigger EUR upside correction. In this case 139.50 is regarded as the first bullish hurdle, while the support is seen at 139.00.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 139.07, with support below at 138.80, 138.39 and 138.12, with resistance above at 139.48, 139.75, and 140.12. Hourly Moving Averages are bullish with the 200SMA at 138.79 and the daily 20EMA at 139.47. Hourly RSI is bullish at 67.