14 Apr 2014
EUR/JPY is off the intraday lows as Draghi effect is fading away
FXStreet (Moscow) - EUR/JPY is trying to take off from the Asian low of 140.41.
Bull point to Draghi
EUR/JPY followed EUR/USD trend and opened with the gap lower this morning as Draghi’s jawboning on weekend impressed the investors and forced them to close some long positions in the single currency. The regulator is displeased with strong euro, while we do not believe his words will have a prolonged effect on the market, there is another factor that may push EUR/JPY lower: risk sentiments are getting sour due to stock market decline and geopolitical tensions, which means the JPY might be in demand. Keep an eye on 140.40 support level. once it is broken, the cross will continue sliding to 140.20/00. The resistance is seen at 140.80
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 141.11, with support below at 140.64, 140.16 and 139.69, with resistance above at 141.59, 142.06, and 142.54. Hourly Moving Averages are bullish, with the 200SMA at 141.76 and the daily 20EMA is neutral at 141.44. Hourly RSI is bearish at 42.
Bull point to Draghi
EUR/JPY followed EUR/USD trend and opened with the gap lower this morning as Draghi’s jawboning on weekend impressed the investors and forced them to close some long positions in the single currency. The regulator is displeased with strong euro, while we do not believe his words will have a prolonged effect on the market, there is another factor that may push EUR/JPY lower: risk sentiments are getting sour due to stock market decline and geopolitical tensions, which means the JPY might be in demand. Keep an eye on 140.40 support level. once it is broken, the cross will continue sliding to 140.20/00. The resistance is seen at 140.80
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 141.11, with support below at 140.64, 140.16 and 139.69, with resistance above at 141.59, 142.06, and 142.54. Hourly Moving Averages are bullish, with the 200SMA at 141.76 and the daily 20EMA is neutral at 141.44. Hourly RSI is bearish at 42.