22 Oct 2013
EUR/JPY consolidates multi-year highs above 135.50
FXstreet.com (San Francisco) - The Euro is currently trading in consolidation mode against the Japanese Yen following the latest bullish movement that took the pair from 134.30 to reach highest since November 2009 at 135.50.
At this moment, the EUR/JPY is pricing at 135.20, 0.60% positive in the day. The short term perspective remains slightly bullish according to the FXstreet.com trend index in the 1-hour chart.
"Technical readings in intraday charts show indicators corrective some of the extreme overbought readings reached on Tuesday," affirms FXstreet.com chief analyst Valeria Bednarik. "Although as long as above 134.90, former year high the upside continues to be favored towards 138.20, next strong resistance area."
On the upside, resistance are at 135.50, 135.60 and 136.10. On the downside, supports are at 135.10, 134.90 and 134.30.
At this moment, the EUR/JPY is pricing at 135.20, 0.60% positive in the day. The short term perspective remains slightly bullish according to the FXstreet.com trend index in the 1-hour chart.
"Technical readings in intraday charts show indicators corrective some of the extreme overbought readings reached on Tuesday," affirms FXstreet.com chief analyst Valeria Bednarik. "Although as long as above 134.90, former year high the upside continues to be favored towards 138.20, next strong resistance area."
On the upside, resistance are at 135.50, 135.60 and 136.10. On the downside, supports are at 135.10, 134.90 and 134.30.