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23 Apr 2014
EUR/JPY trading with a bullish bias
FXStreet (Guatemala) - Currently, EUR/JPY is trading at 141.70, up 0.04% on the day, having posted a daily high at 141.77 and low at 141.56.
EUR/JPY perked up over the past 24 hours and continues with a bullish bias into Asia post the open. Meanwhile, Richard Koo, chief economist at Nomura Research Institute noted that the monetary policy in Europe and Japan are moving in opposite directions with the European central bank taking very seriously the euro’s recent strength and the sharp drop in inflation. Where as he went on and said, "In Japan, meanwhile, BOJ Governor Haruhiko Kuroda declared the BOJ had no intention of giving in to market participants’ demands for additional easing in response to the recent poor performance of Japanese equities. He also surprised many people by expressing the view that Japan’s deflationary gap was almost gone."
Daily RSI is in neutral territory at 51.76
On the hourly EUR/JPY chart, the 200 SMA is climbing and currently at 141.63, up from the previous hour close at 141.21. On average, the exponential closing price for the past 20 days is 141.35, with the trend indicating a continuation higher ahead.
EUR/JPY Levels
Spot is presently trading at 141.71, and next resistance can be seen at 141.77 (Daily High), 141.78 (Daily Classic R1), 141.80 (Yesterday's High), 142.04 (Daily Classic R2) and 142.06 (Weekly Classic R1). Next support to the downside can be found at 141.67 (Daily Open), 141.62 (Hourly 20 EMA), 141.59 (Daily Classic PP), 141.56 (Daily Low) and 141.52 (Weekly High).
EUR/JPY perked up over the past 24 hours and continues with a bullish bias into Asia post the open. Meanwhile, Richard Koo, chief economist at Nomura Research Institute noted that the monetary policy in Europe and Japan are moving in opposite directions with the European central bank taking very seriously the euro’s recent strength and the sharp drop in inflation. Where as he went on and said, "In Japan, meanwhile, BOJ Governor Haruhiko Kuroda declared the BOJ had no intention of giving in to market participants’ demands for additional easing in response to the recent poor performance of Japanese equities. He also surprised many people by expressing the view that Japan’s deflationary gap was almost gone."
Daily RSI is in neutral territory at 51.76
On the hourly EUR/JPY chart, the 200 SMA is climbing and currently at 141.63, up from the previous hour close at 141.21. On average, the exponential closing price for the past 20 days is 141.35, with the trend indicating a continuation higher ahead.
EUR/JPY Levels
Spot is presently trading at 141.71, and next resistance can be seen at 141.77 (Daily High), 141.78 (Daily Classic R1), 141.80 (Yesterday's High), 142.04 (Daily Classic R2) and 142.06 (Weekly Classic R1). Next support to the downside can be found at 141.67 (Daily Open), 141.62 (Hourly 20 EMA), 141.59 (Daily Classic PP), 141.56 (Daily Low) and 141.52 (Weekly High).