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28 Jan 2014
EUR/JPY keeps head down before tomorrow’s FOMC
FXstreet.com (Moscow) - EUR/JPY is flirting with the resistance of 140.50 in the quiet Asian session after opening at 140.31.
EUR/JPY cannot decide where to go
EUR/JPY ended Monday in the green zone as the Yen weakened across the board amid lower demand for safe-heaven assets. The cross returned to the area above 140.00 level and even poked the resistance of 140.65. The EUR/JPY traders largely ignored positive IFO data as risk sentiment is all the JPY crosses are interested in nowadays. Japan publishes the Small Business Optimism data later today. This is not quite a market mover, but keep an eye on this report as it is a good leading indicator of what’s going on in the economy. Provided that there are no new EM shocks today, the cross may go on consolidating in the range before the FOMC meeting. The nearest resistance comes at 140.50 (1h 50 EMA) and followed by 140.65-70. Once it is broken, the cross will move to 141.00 where the upside will be capped. The support is seen at 140.00 and then at 139.80.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 140.07, with support below at 139.41, 138.50 and 137.84, with resistance above at 140.98, 141.64, and 142.55. Hourly Moving Averages are mostly bearish, with the 200SMA at 141.37 and the daily 20EMA at 141.57. Hourly RSI is neutral at 52.
EUR/JPY cannot decide where to go
EUR/JPY ended Monday in the green zone as the Yen weakened across the board amid lower demand for safe-heaven assets. The cross returned to the area above 140.00 level and even poked the resistance of 140.65. The EUR/JPY traders largely ignored positive IFO data as risk sentiment is all the JPY crosses are interested in nowadays. Japan publishes the Small Business Optimism data later today. This is not quite a market mover, but keep an eye on this report as it is a good leading indicator of what’s going on in the economy. Provided that there are no new EM shocks today, the cross may go on consolidating in the range before the FOMC meeting. The nearest resistance comes at 140.50 (1h 50 EMA) and followed by 140.65-70. Once it is broken, the cross will move to 141.00 where the upside will be capped. The support is seen at 140.00 and then at 139.80.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 140.07, with support below at 139.41, 138.50 and 137.84, with resistance above at 140.98, 141.64, and 142.55. Hourly Moving Averages are mostly bearish, with the 200SMA at 141.37 and the daily 20EMA at 141.57. Hourly RSI is neutral at 52.