27 Jun 2014
EUR/JPY in overbought conditions ahead of major risk events
FXStreet (Guatemala) - EUR/JPY is trading at 138.39, down -0.06% on the day, having posted a daily high at 138.50 and low at 137.98.
EUR/JPY has entered overbought conditions, pressing on in an attempt to break up into the upper half of the 137 handle. With the week drawing to a close, next week’s flash CPI estimate is expected at 0.5%y/y and at 0.7%y/y on core and will be a core input for EUR traders into the July 3rd ECB decision, as explained by Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank. “ Accordingly, EUR risks next week are significant."
EUR/JPY Levels
Spot is presently trading at 138.39, and next resistance can be seen at 138.42 (Daily Classic PP), 138.47 (Daily Open), 138.47 (Weekly Low), 138.48 (Weekly Classic PP) and 138.50 (Daily High). Support below can be found at 138.24 (Hourly 20 EMA), 138.04 (Weekly Classic S1), 137.98 (Daily Low), 137.97 (Daily Classic S1) and 137.92 (Yesterday's Low).
EUR/JPY has entered overbought conditions, pressing on in an attempt to break up into the upper half of the 137 handle. With the week drawing to a close, next week’s flash CPI estimate is expected at 0.5%y/y and at 0.7%y/y on core and will be a core input for EUR traders into the July 3rd ECB decision, as explained by Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank. “ Accordingly, EUR risks next week are significant."
EUR/JPY Levels
Spot is presently trading at 138.39, and next resistance can be seen at 138.42 (Daily Classic PP), 138.47 (Daily Open), 138.47 (Weekly Low), 138.48 (Weekly Classic PP) and 138.50 (Daily High). Support below can be found at 138.24 (Hourly 20 EMA), 138.04 (Weekly Classic S1), 137.98 (Daily Low), 137.97 (Daily Classic S1) and 137.92 (Yesterday's Low).