28 Apr 2014
EUR/JPY is pressures down; 141.00 is at risk
FXStreet (Moscow) - EUR/JPY started the day on a weaker note as the cross opened at 141.35 and probed the lows of 140.98 during Asian hours.
Inflation vs. risk
EUR/JPY ended week marginally in red, respecting its recent range limited by 142.00-140.00. The cross was bearish the whole week. though the movements were somewhat lazy due to contradictory set of factors. This week is going to be busy for the single currency, Though on Monday we have only import price index in Germany for appetizer. According to the forecasts, the numbers will prove that the defamatory processes are getting stronger in Eurozone. This may put EUR under pressure as investors will scale down their Germany final CPI expectations (the report is due on Tuesday). Anyway, the reaction is likely to be muted and short-lived. Another factor that may affect EUR/JPY dynamics is risk sentiments shaped by geopolitical situation. Further Russia-Ukrainian conflict escalation will support safe-heaven flows into JPY and push the cross down. The nearest key support is seen at 141.00 and followed by 140.70.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 141.39, with support below at 141.01, 140.65 and 140.27, with resistance above at 141.75, 142.13, and 142.49. Hourly Moving Averages are bearish with the 200SMA at 141.43 and the daily 20EMA at 141.41. Hourly RSI is bearish at 44.
Inflation vs. risk
EUR/JPY ended week marginally in red, respecting its recent range limited by 142.00-140.00. The cross was bearish the whole week. though the movements were somewhat lazy due to contradictory set of factors. This week is going to be busy for the single currency, Though on Monday we have only import price index in Germany for appetizer. According to the forecasts, the numbers will prove that the defamatory processes are getting stronger in Eurozone. This may put EUR under pressure as investors will scale down their Germany final CPI expectations (the report is due on Tuesday). Anyway, the reaction is likely to be muted and short-lived. Another factor that may affect EUR/JPY dynamics is risk sentiments shaped by geopolitical situation. Further Russia-Ukrainian conflict escalation will support safe-heaven flows into JPY and push the cross down. The nearest key support is seen at 141.00 and followed by 140.70.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 141.39, with support below at 141.01, 140.65 and 140.27, with resistance above at 141.75, 142.13, and 142.49. Hourly Moving Averages are bearish with the 200SMA at 141.43 and the daily 20EMA at 141.41. Hourly RSI is bearish at 44.