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19 May 2014
EUR/JPY on the defensive
FXStreet (Guatemala) - EUR/JPY is trading at 138.91, down -0.09% on the day, having posted a daily high at 139.30 and low at 138.61.
EUR/JPY is still on the defensive this week and Karen Jones at Commerzbank explained that the Fibonacci retracement at 137.86 will offer key support while resistance is offered initially by the 50% retracement and mid-April low at 140.02/24. “Above it the 140.30/46 zone, made up of the February 11 high and March 14 and 21 lows, is to be seen. Further resistance is at the 38.2% Fibonacci retracement at 140.91 and also along the 55 day moving average at 141.34. While the currency pair stays below its 140.95 May 13 high, we will stick to our negative outlook”.
EUR/JPY levels
With spot trading at 138.91, we can see next resistance ahead at 138.95 (Hourly 20 EMA), 139.04 (Monthly Low), 139.04 (Weekly Low), 139.05 (Daily Open) and 139.09 (Daily Classic PP). Support below can be found at 138.78 (Yesterday's Low), 138.72 (Daily Classic S1), 138.61 (Daily Low), 138.41 (Daily Classic S2) and 138.22 (Weekly Classic S1).
EUR/JPY is still on the defensive this week and Karen Jones at Commerzbank explained that the Fibonacci retracement at 137.86 will offer key support while resistance is offered initially by the 50% retracement and mid-April low at 140.02/24. “Above it the 140.30/46 zone, made up of the February 11 high and March 14 and 21 lows, is to be seen. Further resistance is at the 38.2% Fibonacci retracement at 140.91 and also along the 55 day moving average at 141.34. While the currency pair stays below its 140.95 May 13 high, we will stick to our negative outlook”.
EUR/JPY levels
With spot trading at 138.91, we can see next resistance ahead at 138.95 (Hourly 20 EMA), 139.04 (Monthly Low), 139.04 (Weekly Low), 139.05 (Daily Open) and 139.09 (Daily Classic PP). Support below can be found at 138.78 (Yesterday's Low), 138.72 (Daily Classic S1), 138.61 (Daily Low), 138.41 (Daily Classic S2) and 138.22 (Weekly Classic S1).