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21 Oct 2013
EUR/JPY trampoline jumping to 134.06
FXstreet.com (Chicago) - EUR/JPY reached the 134 zone but was unable to sustain performance on heavy bearish pressure sending the pair back below the zone ahead of Tokyo’s opening and Japanese data.
Japanese data
In Europe, no major data is due today for the Euro-zone contrary to Japanese BoJ speeches, industrial data and trade balance results.
EUR/JPY Technical Levels
Technically speaking, the pair is offered at 133.90 and oscillates between supports at 133.92 (September 27th highs), 133.51 (October 12th highs) ahead of 133.22 (October 4th highs) and the resistances set at 134.25 (September 20th lows), 134.67 (September 22nd highs) followed by 134.96 (September 18th highs).
According to Valeria Bednarik, analyst from FXstreet.com, “the EUR/JPY holds below the 134.00 mark, although mostly consolidating rather than suggesting some short term drop: the hourly chart shows price well above its 100 and 200 SMAs, both heading higher, with the shorter offering dynamic support now around 133.50. Technical indicators in the mentioned time frame stand in neutral territory, showing little interest around at the time being. In bigger time frames indicators also lack strength although stand in positive territory, keeping the downside limited.”
Japanese data
In Europe, no major data is due today for the Euro-zone contrary to Japanese BoJ speeches, industrial data and trade balance results.
EUR/JPY Technical Levels
Technically speaking, the pair is offered at 133.90 and oscillates between supports at 133.92 (September 27th highs), 133.51 (October 12th highs) ahead of 133.22 (October 4th highs) and the resistances set at 134.25 (September 20th lows), 134.67 (September 22nd highs) followed by 134.96 (September 18th highs).
According to Valeria Bednarik, analyst from FXstreet.com, “the EUR/JPY holds below the 134.00 mark, although mostly consolidating rather than suggesting some short term drop: the hourly chart shows price well above its 100 and 200 SMAs, both heading higher, with the shorter offering dynamic support now around 133.50. Technical indicators in the mentioned time frame stand in neutral territory, showing little interest around at the time being. In bigger time frames indicators also lack strength although stand in positive territory, keeping the downside limited.”