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EUR/JPY trying to recover within a range

FXStreet (Moscow) - EUR/JPY is trapped in a tight range in Asia; the cross is trading at 138.90, having reached the daily high at 138.95 and daily low at 138.77

EZ inflation is interesting, but stale

EUR was not impressed by ZEW reports published on Tuesday and held pretty well despite dismal numbers that raised concerns about the state of the largest Eurozone economy. Ahead looks like a busy calendar for EUR as markets are waiting for EZ inflation numbers. Flash estimates published earlier should be confirmed at +0/3% y/y and +0.1% m/m, while any deviation from the forecast might cause a period of volatility. Though the cross movements are likely to be contained by 139.00 on the upside and 138.52 (yesterday’s low) on the downside ahead of the FOMC monetary policy decision announced later during New York hours

What are today’s key EUR/JPY levels?

Today's central pivot point can be found at 138.79, with support below at 138.58, 138.32 and 138.11, with resistance above at 139.05, 139.26, and 139.52. Hourly Moving Averages are bullish with the 200SMA bullish at 137.70 and the daily 20EMA bullish at 137.70. Hourly RSI is bullish at 55.

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