OctaFX | OctaFX Forex Broker
Open trading account

EUR/JPY in no mans land between critical levels

FXStreet (Guatemala) - EUR/JPY is trading at 137.31, down -0.02% on the day, having posted a daily high at 137.91 and low at 137.11.

EUR/JPY stabilised at the 137.00/78.6% retracement level yesterday and has found territory again confirmed back onto the handle with a good rally over the course of the past 24 hours. The pair today was offered however with a market flooding away from the single currency with a mixture of poor data releases for the EZ and in a continuation of a strong Yen overnight. We are in no mans land here until a break of 138 to the upside and any rallies that could regain the 200 day ma at 139.62 would be required in order to reassert upside pressure at this point and trigger a move to 141.88 and 143.55 (61.8% and 78.6% retracement of the move seen this year), as explained by Karen Jones, chief analyst at Commerzbank. “Below 135.73 would trigger losses towards the 133.51/23.6% retracement of the move up from 2012”.

EUR/JPY hourly levels

With spot trading at 137.32, we can see next resistance ahead at 137.47(Hourly 20 EMA) and 137.75 (Yesterday's High). Support below can be found at 137.22 (Weekly Classic S2), 137.11 (Daily Low), 136.90 (Daily Classic S1), 136.87 (Yesterday's Low) and 136.44 (Daily Classic S2).

EZ data re-cap; disappointing - BBH

Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman noted the disappointments form the EZ data earlier.
Read more Previous

USD/CAD reaches 6 ½-month high

USD/CAD extended gains past the 1.1250 area and reached its highest level since March 20 Friday, underpinned by a solid US nonfarm payrolls report followed by firm ISM services data.
Read more Next
Start livechat