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4 Jun 2014
EUR/JPY has retreated from the major resistance of 139.95/00
FXStreet (Moscow) - EUR/JPY retraced from Asian high at 139.94 to 139.84, but the bullish momentum is still strong
Per aspera ad astra
EUR/JPY bulls are determined to get the cross to 140.00 resistance and they have a great chance for success, if USD/JPY continues its upside quest. The Asian movements are influenced by overall JPY sentiments, but during European hours the market focus will shift onto EZ macroeconomic statistics. We have Service PMI, GDP and PPI reports. Normally, they have a good potential of market movers, but this time these reports are likely to be viewed through the lens of looming ECB monetary policy meeting. Weaker numbers might support the idea of aggressive stimulating measures and put one pressure on EUR. Keep an eye at 139.50 on the downside and 140.00 on the upside.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 139.52, with support below at 139.24, 138.78 and 138.50, with resistance above at 139.98, 140.25, and 140.71. Hourly Moving Averages are bullish with the 200SMA at 138.89 and the daily 20EMA at 139.49. Hourly RSI is bullish at 67.
Per aspera ad astra
EUR/JPY bulls are determined to get the cross to 140.00 resistance and they have a great chance for success, if USD/JPY continues its upside quest. The Asian movements are influenced by overall JPY sentiments, but during European hours the market focus will shift onto EZ macroeconomic statistics. We have Service PMI, GDP and PPI reports. Normally, they have a good potential of market movers, but this time these reports are likely to be viewed through the lens of looming ECB monetary policy meeting. Weaker numbers might support the idea of aggressive stimulating measures and put one pressure on EUR. Keep an eye at 139.50 on the downside and 140.00 on the upside.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 139.52, with support below at 139.24, 138.78 and 138.50, with resistance above at 139.98, 140.25, and 140.71. Hourly Moving Averages are bullish with the 200SMA at 138.89 and the daily 20EMA at 139.49. Hourly RSI is bullish at 67.