13 Dec 2013
EUR/JPY is recording fresh weekly highs.
FXstreet.com (London) - EUR/JPY has been a non-stop performer crashing through resistances until 142.50 where the pair now clings from.
Meanwhile, Kit Jukes, head of currency strategy at Societe Generale wrote an article that opened with the line “Remember all that 'whatever it takes' stuff?”…he continued to say, ” Well, now the ECB seems ready to declare victory in the fight against the collapse of the Euro System, and focus on 'not being Japanese'. That is, they don't want banks to use cheap liquidity to buy governments bonds and forget to lend money to the real economy. Of course, 'not being Japanese' may also mean not having a ludicrously expensive currency, but that's for another day, or week, month or even year....”
EUR/JPY Levels
The 20 DMA is 138.14, the 50 DMA is 135.28 and the 200 DMA is 130.78. RSI (14) reads 75.22. Supports are 139.98, 140.42, 140.77, 140.92, 141.50, 141.69 and 141.82. Spot is142.35 and resistance is 143.05 after the high.
Meanwhile, Kit Jukes, head of currency strategy at Societe Generale wrote an article that opened with the line “Remember all that 'whatever it takes' stuff?”…he continued to say, ” Well, now the ECB seems ready to declare victory in the fight against the collapse of the Euro System, and focus on 'not being Japanese'. That is, they don't want banks to use cheap liquidity to buy governments bonds and forget to lend money to the real economy. Of course, 'not being Japanese' may also mean not having a ludicrously expensive currency, but that's for another day, or week, month or even year....”
EUR/JPY Levels
The 20 DMA is 138.14, the 50 DMA is 135.28 and the 200 DMA is 130.78. RSI (14) reads 75.22. Supports are 139.98, 140.42, 140.77, 140.92, 141.50, 141.69 and 141.82. Spot is142.35 and resistance is 143.05 after the high.