Back
8 Jul 2013
EUR/JPY back below130.00
FXstreet.com (Barcelona) - The EUR/JPY foreign exchange cross rate is currently trading at 129.85 flat for the week so far, off recent session highs at 130.20.
EUR/JPY lack of upward momentum
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, “EUR self weakness may keep the upside limited. The hourly chart shows price being cap by 100 SMA, while indicators turn lower in positive territory, reflecting the lack of upward momentum. In the 4 hours chart technical readings stand in neutral territory, giving not much clues on direction at the time being. Price needs to overcome 130.50 resistance area to be able to advance further.”
EUR/JPY key technical levels
Bednarik finds support levels at: 129.50, 129.10 and 128.80, while resistance levels at: 130.10, 130.50 and 131.00.
EUR/JPY lack of upward momentum
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, “EUR self weakness may keep the upside limited. The hourly chart shows price being cap by 100 SMA, while indicators turn lower in positive territory, reflecting the lack of upward momentum. In the 4 hours chart technical readings stand in neutral territory, giving not much clues on direction at the time being. Price needs to overcome 130.50 resistance area to be able to advance further.”
EUR/JPY key technical levels
Bednarik finds support levels at: 129.50, 129.10 and 128.80, while resistance levels at: 130.10, 130.50 and 131.00.