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7 Aug 2014
EUR/JPY lacking conviction on moves higher
FXStreet (Guatemala) - EUR/JPY is trading at 136.68, up 0.04% on the day, having posted a daily high at 136.74 and low at 136.62.
EUR/JPY has been trading without conviction to the upside on the break of its two month downtrend of late and Karen Jones, chief analyst at Commerzbank explained that the recent move higher fell short of the 55 day ma at 138.27 and attention has reverted to the 136.37/25 lows. “Above 138.27 sees strength to 139.30/the July high and the 140.10 June high, we still look for the 2014 downtrend at 140.52 to cap”.
EUR/JPY Levels
Spot is presently trading at 136.69, and next resistance can be seen at 136.78 (Hourly 20 EMA), 136.92 (Weekly Classic S1), and 137.27 (Yesterday's High) 137.50 and 137.90. Next support to the downside can be found at 136.68 (Daily Classic S2), 136.20 and 135.80.
EUR/JPY has been trading without conviction to the upside on the break of its two month downtrend of late and Karen Jones, chief analyst at Commerzbank explained that the recent move higher fell short of the 55 day ma at 138.27 and attention has reverted to the 136.37/25 lows. “Above 138.27 sees strength to 139.30/the July high and the 140.10 June high, we still look for the 2014 downtrend at 140.52 to cap”.
EUR/JPY Levels
Spot is presently trading at 136.69, and next resistance can be seen at 136.78 (Hourly 20 EMA), 136.92 (Weekly Classic S1), and 137.27 (Yesterday's High) 137.50 and 137.90. Next support to the downside can be found at 136.68 (Daily Classic S2), 136.20 and 135.80.