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11 Feb 2014
EUR/JPY poked at the resistance zone of 139.75-80. but retraced lower
FXStreet (Moscow) - EUR/JPY moved slightly higher during Asian hours and reached the current intraday high at 139.78 against the opening level of 139.40, though the trading activity remains subdued as Japan is closed for holiday.
EUR ignores negative macro news
It seems that Euro traders looked the other way when France and Italy published their weak industrial output figures for December, as EUR/JPY went on consolidating in a narrow range. Actually, those reports are a bad sign for the 4 quarter GDP in Eurozone published on Friday, but who cares when there is a huge risk event in the form of Yellen testimony looming on the horizon. Today European economic calendar is empty, so the cross movements will be defined by position adjustment and general market sentiments. Keep an eye at the stock market as lower stock markets may push the Japanese currency higher. The key levels to watch: 139.80 on the upside and 139.20on the downside.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 139.48, with support below at 139.14, 138.82 and 138.48, with resistance above at 139.81, 140.15, and 140.47. Hourly Moving Averages are bullish, with the 200SMA at 138.26 and the daily 20EMA at 139.69. Hourly RSI is neutral at 61.
EUR ignores negative macro news
It seems that Euro traders looked the other way when France and Italy published their weak industrial output figures for December, as EUR/JPY went on consolidating in a narrow range. Actually, those reports are a bad sign for the 4 quarter GDP in Eurozone published on Friday, but who cares when there is a huge risk event in the form of Yellen testimony looming on the horizon. Today European economic calendar is empty, so the cross movements will be defined by position adjustment and general market sentiments. Keep an eye at the stock market as lower stock markets may push the Japanese currency higher. The key levels to watch: 139.80 on the upside and 139.20on the downside.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 139.48, with support below at 139.14, 138.82 and 138.48, with resistance above at 139.81, 140.15, and 140.47. Hourly Moving Averages are bullish, with the 200SMA at 138.26 and the daily 20EMA at 139.69. Hourly RSI is neutral at 61.