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26 Aug 2013
EUR/JPY treading water above 132.00 helped on Yen weakness
FXstreet.com (Barcelona) - The EUR/JPY foreign exchange cross rate is currently trading at 132.16, off recent session lows at 131.87, minutes away from Japan Corporate Services Price Index (CSPI) data y/y at 23:50 GMT and Nikkei open 10 minutes later, with futures pointing for a higher open
EUR/JPY indicators exhausted to the upside
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, “The hourly chart shows 100 and 200 SMAs advancing higher below current price, although indicators heading lower around their midlines. 4 hours chart shows indicators exhausted to the upside and turning south in overbought levels, supporting some downside correction towards 131.60, although further losses are not yet seen.”
EUR/JPY key technical levels
Bednarik finds support levels at: 131.60, 131.10 and 130.70, while resistance levels at: 132.40, 133.00 and 133.55.
EUR/JPY indicators exhausted to the upside
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, “The hourly chart shows 100 and 200 SMAs advancing higher below current price, although indicators heading lower around their midlines. 4 hours chart shows indicators exhausted to the upside and turning south in overbought levels, supporting some downside correction towards 131.60, although further losses are not yet seen.”
EUR/JPY key technical levels
Bednarik finds support levels at: 131.60, 131.10 and 130.70, while resistance levels at: 132.40, 133.00 and 133.55.