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23 Apr 2014
EUR/JPY is waiting for catalysts
FXStreet (Moscow) - EUR/JPY is sitting in a tight, 20-pips range after opening at 141.65.
EUR/JPY is EUR data dependent today.
If Eurozone PMI data come out better than expected, the single currency will be supported across the board, though the reaction might be short-lived as investors are more interested in inflation numbers than in economic activity figures. The Eurozone economy is recovering and this is obvious, but inflation is still uncomfortably low. On the downside the intraday movement is likely to be limited by 141.30. The resistance of 142.00 might prove to be strong.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 141.55, with support below at 141.31, 140.97 and 140.73, with resistance above at 141.90, 142.14, and 142.48. Hourly Moving Averages are bullish with the 200SMA at 141.22 and the daily 20EMA at 141.38. Hourly RSI is bullish at 58.
EUR/JPY is EUR data dependent today.
If Eurozone PMI data come out better than expected, the single currency will be supported across the board, though the reaction might be short-lived as investors are more interested in inflation numbers than in economic activity figures. The Eurozone economy is recovering and this is obvious, but inflation is still uncomfortably low. On the downside the intraday movement is likely to be limited by 141.30. The resistance of 142.00 might prove to be strong.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 141.55, with support below at 141.31, 140.97 and 140.73, with resistance above at 141.90, 142.14, and 142.48. Hourly Moving Averages are bullish with the 200SMA at 141.22 and the daily 20EMA at 141.38. Hourly RSI is bullish at 58.