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22 May 2014
EUR/JPY bulls bend over backwards to break through 139.00
FXStreet (Moscow) - EUR/JPY started the session at 138.77and climbed all the way up to the pivotal resistance of 139.00 on the back of positive risk sentiments
Hello, doji!
EUR/JPY dipped to 138.13 on Wednesday, but managed to revoker to 138.7 by the end of the day, thus, the cross finished Wednesday nearly unchanged. Long-legged doji on daily chart might signal that EUR/JPY has bottomed out, though we need a confirmation in the form of positive daily close today. Asian session is positive for risk sentiments today, as China published inspiring flash PMI data, while Nikkei is in green zone. This reduces demand for JPY and helps EUR/JPY to recover, though keep an eye at EZ flash PMI published later today as they may become a game changer.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 138.61, with support below at 138.26, 137.79 and 137.45, with resistance above at 139.08, 139.42, and 139.89. Hourly Moving Averages are mixed with the 200SMA at 139.46 and the daily 20EMA at 140.24. Hourly RSI is bearish at 56.
Hello, doji!
EUR/JPY dipped to 138.13 on Wednesday, but managed to revoker to 138.7 by the end of the day, thus, the cross finished Wednesday nearly unchanged. Long-legged doji on daily chart might signal that EUR/JPY has bottomed out, though we need a confirmation in the form of positive daily close today. Asian session is positive for risk sentiments today, as China published inspiring flash PMI data, while Nikkei is in green zone. This reduces demand for JPY and helps EUR/JPY to recover, though keep an eye at EZ flash PMI published later today as they may become a game changer.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 138.61, with support below at 138.26, 137.79 and 137.45, with resistance above at 139.08, 139.42, and 139.89. Hourly Moving Averages are mixed with the 200SMA at 139.46 and the daily 20EMA at 140.24. Hourly RSI is bearish at 56.