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1 Aug 2014
EUR/JPY mildly bullish, supported on 20DMA
FXStreet (Guatemala) - EUR/JPY is trading at 137.64, having posted a daily high at 137.75 and low at 137.62.
Valeria Bednarik, chief analyst at FXStreet explained that the EUR/JPY closed the day unchanged after finding short term buyers around 137.50, still the immediate support to watch. “The short term picture is mild bullish, as price develops well above its 100 and 200 SMAs, with the shortest finally above the larger, albeit indicators hold in neutral territory. In the 4 hours chart however, indicators lost the upward potential and turn south, still above their midlines”.
EUR/JPY Levels
Current price is 137.64, with resistance ahead at 137.65 (Hourly 20 EMA), 137.71 (Weekly High), 137.75 (Daily High) and 137.83 (Weekly Classic R2), 137.90 138.40 and 138.85. Next support to the downside can be found at 137.62 (Daily Low), 137.52 (Daily 20 SMA), 137.51 (Yesterday's Low), 137.48 (Daily Classic PP), 137.29 (Weekly Classic R1), 136.90 and 136.60.
Valeria Bednarik, chief analyst at FXStreet explained that the EUR/JPY closed the day unchanged after finding short term buyers around 137.50, still the immediate support to watch. “The short term picture is mild bullish, as price develops well above its 100 and 200 SMAs, with the shortest finally above the larger, albeit indicators hold in neutral territory. In the 4 hours chart however, indicators lost the upward potential and turn south, still above their midlines”.
EUR/JPY Levels
Current price is 137.64, with resistance ahead at 137.65 (Hourly 20 EMA), 137.71 (Weekly High), 137.75 (Daily High) and 137.83 (Weekly Classic R2), 137.90 138.40 and 138.85. Next support to the downside can be found at 137.62 (Daily Low), 137.52 (Daily 20 SMA), 137.51 (Yesterday's Low), 137.48 (Daily Classic PP), 137.29 (Weekly Classic R1), 136.90 and 136.60.