9 Jul 2013
EUR/JPY struggling below 130.00
FXstreet.com (Barcelona) - The EUR/JPY foreign exchange cross rate is last at 1.2982, off session lows at 129.68, while the Nikkei index opens higher by +1.28% shy of the 14300 points.
EUR/JPY neutral in the short term
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, the EUR/JPY enter the “Asian session with a pretty neutral short term stance according to the hourly chart, as indicators hover around their midlines while price stands around its 100 SMA. In the 4 hours chart there’s a limited bearish tone coming from technical readings and the fact that price seems unable to stabilize above the 130.00 mark. The pair needs to break strongly above 130.50 to be able to continue advancing.”
EUR/JPY key technical levels
Bednarik sees support levels at: 129.50, 129.10 and 128.80, while resistance levels at: 130.10, 130.50 and 131.00.
EUR/JPY neutral in the short term
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, the EUR/JPY enter the “Asian session with a pretty neutral short term stance according to the hourly chart, as indicators hover around their midlines while price stands around its 100 SMA. In the 4 hours chart there’s a limited bearish tone coming from technical readings and the fact that price seems unable to stabilize above the 130.00 mark. The pair needs to break strongly above 130.50 to be able to continue advancing.”
EUR/JPY key technical levels
Bednarik sees support levels at: 129.50, 129.10 and 128.80, while resistance levels at: 130.10, 130.50 and 131.00.