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EUR/JPY retreats from Asian high at 137.80

FXStreet (Moscow) - EUR/JPY  is trading at 137.60 after having opened at 137.69 and moved within a narrow range limited by 137.80 on the upside and 137.64 on the downside.

EUR/JPY made a good progress on Tuesday, underpinned by EUR strength and JPY weakness. The cross rushed above 137.00 pivot and touched the intraday high at 137.79 before settling down at 137.69. Today the cross movements would be shaped by market reaction to FOMC meeting. Market sentiments are tilted towards more dovish outcome, thus unexpected hawkish surprise might make a stir. From the technical point of view keep an eye at 137.80 as it is the nearest resistance level followed by 138.00. The support is seen at 137.50.

What are today’s key EUR/JPY levels? 

Today's central pivot point can be found at 137.48, with support below at 137.13, 136.53 and 136.18, with resistance above at 138.08, 138.43,  and 139.03. Hourly Moving Averages are mixed with the 200SMA bullish at 136.57 and the daily 20EMA flat at 136.96. Hourly RSI is bullish at 66.

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