21 Jul 2014
EUR/JPY bears push closer to 137.00
FXStreet (Moscow) - EUR/JPY is beating around 137.00 level as traders in Asia are not ready to decide where to go.
EUR/JPY bears are on the alert
JPY strength is more evident in crosses. EUR/JPY managed to recover to the pivotal level of 137.00 by the end of Friday after bottoming out at 136.69, but the cross is vulnerable to new losses. The fact that 137/00 resistance was not clearly broken on daily basis weakens the bullish mid-term case The upside technical correction might take EUR/JPY on intraday basis, but we need to see a sustainable copse above 137.20 to hope for further growth.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 137.04, with support below at 136.76, 136.43 and 136.15, with resistance above at 137.36, 137.64, and 137.97. Hourly Moving Averages are mixed with the 200SMA at 137.85 and the daily 20EMA at 138.14. Hourly RSI is bearish at 49.
EUR/JPY bears are on the alert
JPY strength is more evident in crosses. EUR/JPY managed to recover to the pivotal level of 137.00 by the end of Friday after bottoming out at 136.69, but the cross is vulnerable to new losses. The fact that 137/00 resistance was not clearly broken on daily basis weakens the bullish mid-term case The upside technical correction might take EUR/JPY on intraday basis, but we need to see a sustainable copse above 137.20 to hope for further growth.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 137.04, with support below at 136.76, 136.43 and 136.15, with resistance above at 137.36, 137.64, and 137.97. Hourly Moving Averages are mixed with the 200SMA at 137.85 and the daily 20EMA at 138.14. Hourly RSI is bearish at 49.