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EUR/JPY cherish hopes for support from European players

FXStreet (Moscow) - EUR/JPY retraced from Asian high at 137.86 towards current level at 137.57 on the back of JPY gaining ground against USD.

Trying to stay above 137.00

EUR/JPY gained nearly 100 pips on Wednesday on the back of EUR rally against USD. Stronger JPY was a kind of drag and kept the cross from breaking above 138.00 pivot (intraday high is set at 137.93). During Asian hours EUR/JPY is usually dominated by Yen sentiments, that’s why the cross has slid towards 137.45. Though things may change once European traders join the game. Draghi is the biggest name on European dance card today. Keep your eyes peeled for spikes of volatility.

What are today’s key EUR/JPY levels?

Today's central pivot point can be found at 137.42, with support below at 136.87, 136.11 and 135.56, with resistance above at 138.18, 138.73, and 139.49. Hourly Moving Averages are mixed with the 200SMA bearish at 137.78 and the daily 20EMA bearish at 138.08. Hourly RSI is bullish at 52.

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