9 May 2014
EUR/JPY extending downside on the week through 140 handle
FXStreet (Guatemala) - EUR/JPY is trading at 139.96, down -0.52% on the day, having posted a daily high at 140.84 and low at 139.88.
EUR/JPY has pressing down on the 140 handle and has managed a breach post a very clear message from the ECB yesterday. Analysts at RBS explained that the ECB really does have to act now in June and they believe they will. Although, strategists at TD Securities explained that despite EUR’s reaction to the outcome of yesterday’s ECB meeting, achieving a persistently softer EUR would likely take more than a rate cut.
EUR/JPY Levels
Spot is presently trading at 139.97, and next resistance can be seen at 140.02 (Daily Classic S1), 140.22 (Weekly Classic S2), 140.53 (Yesterday's Low), 140.61 (Hourly 20 EMA) and 140.69 (Daily Open). Support below can be found at 139.88 (Daily Low), 139.45 (Weekly Classic S3), 139.34 (Daily Classic S2), 138.15 (Daily Classic S3) and 137.63 (Daily 200 SMA).
EUR/JPY has pressing down on the 140 handle and has managed a breach post a very clear message from the ECB yesterday. Analysts at RBS explained that the ECB really does have to act now in June and they believe they will. Although, strategists at TD Securities explained that despite EUR’s reaction to the outcome of yesterday’s ECB meeting, achieving a persistently softer EUR would likely take more than a rate cut.
EUR/JPY Levels
Spot is presently trading at 139.97, and next resistance can be seen at 140.02 (Daily Classic S1), 140.22 (Weekly Classic S2), 140.53 (Yesterday's Low), 140.61 (Hourly 20 EMA) and 140.69 (Daily Open). Support below can be found at 139.88 (Daily Low), 139.45 (Weekly Classic S3), 139.34 (Daily Classic S2), 138.15 (Daily Classic S3) and 137.63 (Daily 200 SMA).