26 Jul 2013
EUR/JPY unchanged since late London around 131.75
FXstreet.com (Barcelona) - The EUR/JPY foreign exchange cross rate is currently trading around the 131.75 level, flat for the session so far, following higher than expected Japan CPI data, and the Nikkei opening lower by -1.31%.
EUR/JPY still looking bearish
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, EUR/JPY is “still looking bearish in the short term, as the hourly chart shows price unable to bounce from its 100 SMA while indicators stand in negative territory. In bigger time frames however, readings maintain a more neutral stance, suggesting there’s not enough downward potential at current levels.”
EUR/JPY key technical levels
Bednarik finds support levels at: 131.40, 130.90 and 130.30, while resistance levels at: 132.25, 132.70 and 133.30.
EUR/JPY still looking bearish
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, EUR/JPY is “still looking bearish in the short term, as the hourly chart shows price unable to bounce from its 100 SMA while indicators stand in negative territory. In bigger time frames however, readings maintain a more neutral stance, suggesting there’s not enough downward potential at current levels.”
EUR/JPY key technical levels
Bednarik finds support levels at: 131.40, 130.90 and 130.30, while resistance levels at: 132.25, 132.70 and 133.30.