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20 Jun 2013
EUR/JPY stuck around 128.00
FXstreet.com (Barcelona) - EUR/JPY is last at 127.97, practically unchanged from yesterday's Asia-Pacific open, up +1.95% for the week, despite the huge sell-off in EUR/USD following Wednesday's FOMC, as Yen had a worse run lower on the news than the Euro.
Euro stronger than Yen despite FOMC
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, “The hourly chart shows price recovered above both 100 and 200 SMA’s while indicators head north above their midlines, supporting further short term gains,” adding: “Still far from signaling a reversal of the ruling bearish trend, the pair is expected to continue advancing over the upcoming session, although if local share markets sunk into deep red, won’t be an easy ride.”
Key technical levels
The analyst finds support levels at: 128.10, 127.50 and 127.00, while resistance levels at: 128.80, 129.30 and 129.90
Euro stronger than Yen despite FOMC
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, “The hourly chart shows price recovered above both 100 and 200 SMA’s while indicators head north above their midlines, supporting further short term gains,” adding: “Still far from signaling a reversal of the ruling bearish trend, the pair is expected to continue advancing over the upcoming session, although if local share markets sunk into deep red, won’t be an easy ride.”
Key technical levels
The analyst finds support levels at: 128.10, 127.50 and 127.00, while resistance levels at: 128.80, 129.30 and 129.90