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3 Apr 2014
EUR/JPY is stuck at 143.00 support ahead of ECB meeting
FXStreet (Moscow) - EUR/JPY has retraced from the intraday high of 143.19 and entered the consolidation mode close to the support level of 143.00
EUR/JPY is waiting for ECB
EUR/JPY tested the resistance area 0f 143.40/50 on Wednesday, but failed to go higher and retraced to the pivotal support of 143.00. Early in Asia the cross made several weak attempts to develop the upside dynamics on the back of overall JPY weakening, but managed to climb only to 143.20 resistance level. Obviously, market participants are in no hurry to push EUR higher ahead of the key European event of the week - the ECB policy meeting. Though the majority of the economists expect no change this time, investors are jittery as the inflation numbers published on Monday are the real source of concern. European session may bring some volatility to the cross, but the upside is likely to be limited by Wednesday’s high at 143.46, while the downside may be capped by 142,80 support.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 143.08, with support below at 142.66, 142.30 and 141.88, with resistance above at 143.44, 143.86, and 144.22. Hourly Moving Averages are bullish, with the 200SMA at 141.62 and the daily 20EMA at 141.58. Hourly RSI is neutral at 57.
EUR/JPY is waiting for ECB
EUR/JPY tested the resistance area 0f 143.40/50 on Wednesday, but failed to go higher and retraced to the pivotal support of 143.00. Early in Asia the cross made several weak attempts to develop the upside dynamics on the back of overall JPY weakening, but managed to climb only to 143.20 resistance level. Obviously, market participants are in no hurry to push EUR higher ahead of the key European event of the week - the ECB policy meeting. Though the majority of the economists expect no change this time, investors are jittery as the inflation numbers published on Monday are the real source of concern. European session may bring some volatility to the cross, but the upside is likely to be limited by Wednesday’s high at 143.46, while the downside may be capped by 142,80 support.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 143.08, with support below at 142.66, 142.30 and 141.88, with resistance above at 143.44, 143.86, and 144.22. Hourly Moving Averages are bullish, with the 200SMA at 141.62 and the daily 20EMA at 141.58. Hourly RSI is neutral at 57.