15 Jan 2014
EUR/JPY needs a break through 143.10 daily kijun
FXstreet.com (Bali) - The rise recorded by the EUR/JPY on Tuesday was well capped by the daily tenkan line at 142.80, from where an ongoing pullback has taken the exchange rate on a corrective move, currently at 142.32, session low.
EUR/JPY technicals?
Should buyers make further progress, plenty of solid bids are expected to be needed in order to absorb heavy offers-sensitive territory going from 142.80 up to 143.10, with a break of the latter (daily kijun) needed to see an increase in buying participation on technical upgrading.
From a short term perspective, immediate support is located at 142.15/20 (sequence of lows through Jan) ahead of the always important round numbers in Yen crosses (142.00), with a break lower exposing 141.65 (Jan 6 low).
EUR/JPY technicals?
Should buyers make further progress, plenty of solid bids are expected to be needed in order to absorb heavy offers-sensitive territory going from 142.80 up to 143.10, with a break of the latter (daily kijun) needed to see an increase in buying participation on technical upgrading.
From a short term perspective, immediate support is located at 142.15/20 (sequence of lows through Jan) ahead of the always important round numbers in Yen crosses (142.00), with a break lower exposing 141.65 (Jan 6 low).