22 Aug 2013
EUR/JPY still capped below 131.00
FXstreet.com (Barcelona) - The EUR/JPY foreign exchange cross rate is currently trading at 130.50, off recent session lows at 130.25, about flat since previous Asia-Pacific open, despite having had FOMC minutes in between.
EUR/JPY reflects lack of direction
“Quite messy picture for the EUR/JPY,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “The hourly chart shows price above 100 SMA but indicators pretty flat around their midlines, reflecting the lack of direction the pair has. In the 4 hours chart the technical picture is also neutral as the pair stands trapped in a 100 pip range. Risk however turned to the downside with local share markets as fresh lows, pointing for another negative day in Nikkei also.”
EUR/JPY key technical levels
Bednarik finds support levels at: 129.90, 129.50 and 128.80, while resistance levels at: 130.70, 131.10 and 131.60.
EUR/JPY reflects lack of direction
“Quite messy picture for the EUR/JPY,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “The hourly chart shows price above 100 SMA but indicators pretty flat around their midlines, reflecting the lack of direction the pair has. In the 4 hours chart the technical picture is also neutral as the pair stands trapped in a 100 pip range. Risk however turned to the downside with local share markets as fresh lows, pointing for another negative day in Nikkei also.”
EUR/JPY key technical levels
Bednarik finds support levels at: 129.90, 129.50 and 128.80, while resistance levels at: 130.70, 131.10 and 131.60.