18 Feb 2014
EUR/JPY backs away from 3-week high
FXStreet (Córdoba) - The EUR/JPY eased from multi-week highs during the European session as the German ZEW survey data tempered euro's rally.
The EUR/JPY retreated from a 3-week high of 140.85 scored during the European session, although as the subsequent dip was contained by the 10-hour SMA around 140.27, the pair was confined to a phase of consolidation. At time of writing, the EUR/JPY is trading at the 140.60 zone, recording a 0.7% gain Tuesday.
EUR/JPY levels to watch
In terms of technical levels, the EUR/JPY could find immediate resistances at 140.85 (Feb 18 high), 141.00 (psychological level) and 141.26 (Jan 29 high). On the other hand, supports are seen at 139.49/48 (21-day SMA/Feb 18 low) and 138.94 (Feb 17 low).
The EUR/JPY retreated from a 3-week high of 140.85 scored during the European session, although as the subsequent dip was contained by the 10-hour SMA around 140.27, the pair was confined to a phase of consolidation. At time of writing, the EUR/JPY is trading at the 140.60 zone, recording a 0.7% gain Tuesday.
EUR/JPY levels to watch
In terms of technical levels, the EUR/JPY could find immediate resistances at 140.85 (Feb 18 high), 141.00 (psychological level) and 141.26 (Jan 29 high). On the other hand, supports are seen at 139.49/48 (21-day SMA/Feb 18 low) and 138.94 (Feb 17 low).