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29 Jul 2014
EUR/JPY sighted at 130.00 by year end
FXStreet (Guatemala) - EUR/JPY is trading at 136.96, up 0.05% on the day, having posted a daily high at 137.13 and low at 136.76.
Karen Jones, chief analyst at Commerzbank explained that the EUR/JPY is seeing a small recovery just ahead of the 136.25 2014 low. “The recent rebound has been tepid at best and this suggests that the market remains vulnerable. Failure 136.25 will trigger losses towards the 133.50/40 23.6% retracement of the entire move up from 2012. We continue to target the 130.00 level slightly longer term which is achievable by year end”.
EUR/JPY hourly levels
Spot is presently trading at 136.96, and next resistance can be seen at 137.13 (Daily High) and 137.29 (Weekly Classic R1). Next support to the downside can be found at 136.91 (Hourly 200 SMA), 136.89 (Daily Open) and 136.85 (Hourly 100 SMA).
Karen Jones, chief analyst at Commerzbank explained that the EUR/JPY is seeing a small recovery just ahead of the 136.25 2014 low. “The recent rebound has been tepid at best and this suggests that the market remains vulnerable. Failure 136.25 will trigger losses towards the 133.50/40 23.6% retracement of the entire move up from 2012. We continue to target the 130.00 level slightly longer term which is achievable by year end”.
EUR/JPY hourly levels
Spot is presently trading at 136.96, and next resistance can be seen at 137.13 (Daily High) and 137.29 (Weekly Classic R1). Next support to the downside can be found at 136.91 (Hourly 200 SMA), 136.89 (Daily Open) and 136.85 (Hourly 100 SMA).