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FXStreet (Moscow) - EUR/JPY dipped to 139.47 early in Asia, but managed to recover to current levels of 139.73.
EUR/JPY is depressed
EUR/JPY extended the downside on Wednesday and reached new multi-month lows at 139.45 on the back of overall JPY strength caused by growing demand for safe heaven assets. Today in Asia the cross is trying to reverse some losses, but 140.00 former pivotal support, now plays a role of strong resistance that may limit the upside correction. Preliminary GDP data in Japan came out better than expected, but investors virtually ignored good news. Later during the day the focus will shift to Eurozone GDP numbers and revised April CPI. The inflation is forecasted to grow marginally. It might provide short-term support for the single currency.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 139.84, with support below at 139.37, 138.98 and 138.52, with resistance above at 140.23, 140.69, and 141.08. Hourly Moving Averages are mostly bearish with the 200SMA at 140.91 and the daily 20EMA at 141.05. Hourly RSI is bearish at 47.
15 May 2014
EUR/JPY is hesitant in quiet Asian session
FXStreet (Moscow) - EUR/JPY dipped to 139.47 early in Asia, but managed to recover to current levels of 139.73.
EUR/JPY is depressed
EUR/JPY extended the downside on Wednesday and reached new multi-month lows at 139.45 on the back of overall JPY strength caused by growing demand for safe heaven assets. Today in Asia the cross is trying to reverse some losses, but 140.00 former pivotal support, now plays a role of strong resistance that may limit the upside correction. Preliminary GDP data in Japan came out better than expected, but investors virtually ignored good news. Later during the day the focus will shift to Eurozone GDP numbers and revised April CPI. The inflation is forecasted to grow marginally. It might provide short-term support for the single currency.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 139.84, with support below at 139.37, 138.98 and 138.52, with resistance above at 140.23, 140.69, and 141.08. Hourly Moving Averages are mostly bearish with the 200SMA at 140.91 and the daily 20EMA at 141.05. Hourly RSI is bearish at 47.