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25 Jul 2014
EUR/JPY recovering and maintains 137 handle
FXStreet (Guatemala) - EUR/JPY is trading at 137.08, up 0.01% on the day, having posted a daily high at 137.13 and low at 137.03.
With impressive gains made over night, EUR/JPY has reached a peak for now and Val Bednarik, Chief analyst at FXStreet explained that the Yen weaned against its rivals, with the EUR/JPY recovering above the 137.00 mid US afternoon, and holding ground early Asian session. “The hourly chart shows RSI turning lower and pointing for a downward correction, but momentum maintains the bullish tone while price trades between 100 and 200 SMAs, this last a few pips above current price. In the 4 hours chart a mild positive tone prevails albeit below 136.90 chances will turn back towards the downside”.
EUR/JPY Levels
With spot trading at 137.09, we can see next resistance ahead at 137.22 (Yesterday's High), 1.3750/90 and 138.40. Support below can be found at 137.01 (Daily Classic R2), 136.93 (Hourly 20 EMA) and 136.60 and 136.20.
With impressive gains made over night, EUR/JPY has reached a peak for now and Val Bednarik, Chief analyst at FXStreet explained that the Yen weaned against its rivals, with the EUR/JPY recovering above the 137.00 mid US afternoon, and holding ground early Asian session. “The hourly chart shows RSI turning lower and pointing for a downward correction, but momentum maintains the bullish tone while price trades between 100 and 200 SMAs, this last a few pips above current price. In the 4 hours chart a mild positive tone prevails albeit below 136.90 chances will turn back towards the downside”.
EUR/JPY Levels
With spot trading at 137.09, we can see next resistance ahead at 137.22 (Yesterday's High), 1.3750/90 and 138.40. Support below can be found at 137.01 (Daily Classic R2), 136.93 (Hourly 20 EMA) and 136.60 and 136.20.