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FXStreet (Moscow) - EUR/JPY bulls woke up early today and pushed the cross to new highs of 139.36; currently the cross is trading at 139.26
What will Draghi say?
EUR/JPY is glued to 139.00 level as there are no clear catalysts for the cross so far. Empty Monday calendar left EUR/JPY at the mercy of technical factors, where the bulls didn’t dare to go above 139.10, while the bears stopped at 138.75. Draghi hinted that he is concerned about deflation risks, but it seems that the idea of ECB easing is already priced in. Today the head of ECB is out speaking again. Will he say anything new? If yes, EUR bears may become more active. In this case EUR/JPY might slump below 139.00 again.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 138.99, with support below at 138.85, 138.59 and 138.45, with resistance above at 139.24, 139.38, and 139.64. Hourly Moving Averages are bullish with the 200SMA at 139.00 and the daily 20EMA at 139.92. Hourly RSI is bullish at 74.
27 May 2014
EUR/JPY bulls celebrate 139.00 takeover
FXStreet (Moscow) - EUR/JPY bulls woke up early today and pushed the cross to new highs of 139.36; currently the cross is trading at 139.26
What will Draghi say?
EUR/JPY is glued to 139.00 level as there are no clear catalysts for the cross so far. Empty Monday calendar left EUR/JPY at the mercy of technical factors, where the bulls didn’t dare to go above 139.10, while the bears stopped at 138.75. Draghi hinted that he is concerned about deflation risks, but it seems that the idea of ECB easing is already priced in. Today the head of ECB is out speaking again. Will he say anything new? If yes, EUR bears may become more active. In this case EUR/JPY might slump below 139.00 again.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 138.99, with support below at 138.85, 138.59 and 138.45, with resistance above at 139.24, 139.38, and 139.64. Hourly Moving Averages are bullish with the 200SMA at 139.00 and the daily 20EMA at 139.92. Hourly RSI is bullish at 74.