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16 Sep 2013
EUR/JPY shaken out around the 132 handle
The EUR/JPY foreign exchange cross rate is currently trading at 132.27 off recent session highs at 132.40 printed on the back of Euro strength following Larry Summers withdraw from Fed chairmanship race with Tokyo markets closed over holiday.
EUR/JPY biased lower in the near term
“The EUR/JPY stands around Friday’s close, having already filled a small opening gap, although biased lower according to the hourly chart, as price develops below 100 SMA and indicators head lower below their midlines,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “200 SMA in the same time frame offers some short term support, although price has pushed trough it already, leaving the 131.60 level as immediate support to break to confirm further slides over the upcoming hours.”
EUR/JPY key technical levels
Bednarik finds support levels at: 131.60, 131.20 and 130.70, while resistance levels at: 132.50, 133.00 and 133.45.
EUR/JPY biased lower in the near term
“The EUR/JPY stands around Friday’s close, having already filled a small opening gap, although biased lower according to the hourly chart, as price develops below 100 SMA and indicators head lower below their midlines,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “200 SMA in the same time frame offers some short term support, although price has pushed trough it already, leaving the 131.60 level as immediate support to break to confirm further slides over the upcoming hours.”
EUR/JPY key technical levels
Bednarik finds support levels at: 131.60, 131.20 and 130.70, while resistance levels at: 132.50, 133.00 and 133.45.