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13 Mar 2014
EUR/JPY broke free from its tight range
FXStreet (Moscow) - EUR/JPY has been going nowhere during Asian hours, but strong speculative demand in EUR helped the cross to break above 143.00 and set current intraday high at 143.36
EUR/JPY is counterbalanced
The cross bumped into offers on approach to 143.40 and didn’t dare even to test it yet. It is hard for EUR/JPY to climb higher as positive EUR sentiments are counterbalanced by JPY demand. Both currencies are benefitting form investors’ exodus from the merging markets and risky assets and ignore the fundamentals. Europe enjoys the inflows of portfolio capitals from EM, while JPY is being bought as a safe-heaven. The European calendar is empty today, so watch out for new geopolitical news and technical triggers. The resistance of 143.40 is still the key for the bulls. Once they are above, 143.65 will come into sight. The support is seen at 143.00 and then at 142.24.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 142.70, with support below at 142.40, 141.94 and 141.64, with resistance above at 143.16, 143.46, and 143.92. Hourly Moving Averages are mostly neutral, with the 200SMA at 141.67 and the daily 20EMA at 141.25. Hourly RSI is neutral at 48.
EUR/JPY is counterbalanced
The cross bumped into offers on approach to 143.40 and didn’t dare even to test it yet. It is hard for EUR/JPY to climb higher as positive EUR sentiments are counterbalanced by JPY demand. Both currencies are benefitting form investors’ exodus from the merging markets and risky assets and ignore the fundamentals. Europe enjoys the inflows of portfolio capitals from EM, while JPY is being bought as a safe-heaven. The European calendar is empty today, so watch out for new geopolitical news and technical triggers. The resistance of 143.40 is still the key for the bulls. Once they are above, 143.65 will come into sight. The support is seen at 143.00 and then at 142.24.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 142.70, with support below at 142.40, 141.94 and 141.64, with resistance above at 143.16, 143.46, and 143.92. Hourly Moving Averages are mostly neutral, with the 200SMA at 141.67 and the daily 20EMA at 141.25. Hourly RSI is neutral at 48.