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19 Aug 2013
EUR/JPY still trapped bellow 130.50
FXstreet.com (Barcelona) - The EUR/JPY foreign exchange cross rate is currently trading at 130.32, off recent session highs at 130.42 printed on the back of wider than expected Japan trade deficit, with Nikkei index slightly in the positive up +0.12% above the 13600 points mark.
EUR/JPY quite neutral in the short term
“The EUR/JPY maintains the range, little changed from previous updates, as both currencies present a fair strength against weakened greenback,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “In the hourly chart, the pair stands right above its 100 SMA with indicators heading higher above their midlines, presenting a slightly positive tone. In bigger time frames however, the pair is quite neutral with sellers aligned around 130.70 and buyers at the 129.50 price zone”.
EUR/JPY key technical levels
Bednarik finds support levels at: 129.90, 129.50 and 128.80, while resistance levels at: 130.20, 130.70 and 131.10.
EUR/JPY quite neutral in the short term
“The EUR/JPY maintains the range, little changed from previous updates, as both currencies present a fair strength against weakened greenback,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “In the hourly chart, the pair stands right above its 100 SMA with indicators heading higher above their midlines, presenting a slightly positive tone. In bigger time frames however, the pair is quite neutral with sellers aligned around 130.70 and buyers at the 129.50 price zone”.
EUR/JPY key technical levels
Bednarik finds support levels at: 129.90, 129.50 and 128.80, while resistance levels at: 130.20, 130.70 and 131.10.