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16 May 2014
EUR/JPY levelled but negative while below 140.95
FXStreet (Guatemala) - EUR/JPY is trading at 139.18, down -0.06% on the day, having posted a daily high at 139.47 and low at 138.78.
Karen Jones, chief analyst at Commerzbank called the bottom and explained that the pair slipped to the 139.29/138.80 support zone, made up of the 61.8% Fibonacci retracement of the February-to-March and the late February low. “There we expect the currency pair to level out today. Resistance is offered initially by the 50% retracement and mid-April low at 140.02/24. Above it the 140.30/46 zone, made up of the February 11 high and March 14 and 21 lows, is to be seen”. She further added, “While the currency pair stays below its 140.95 May 13 high, we will stick to our negative outlook”.
EUR/JPY Levels
With spot trading at 139.20, we can see next resistance ahead at 139.21 (Weekly Classic S1), 139.25 (Daily Open), 139.28 (Monthly Low),139.28 (Weekly Low) and 139.38 (Daily Classic PP). Support below can be found at 139.20 (Hourly 20 EMA), 138.98 (Yesterday's Low), 138.87 (Daily Classic S1), 138.78 (Daily Low) and 138.47(Daily Classic S2).
Karen Jones, chief analyst at Commerzbank called the bottom and explained that the pair slipped to the 139.29/138.80 support zone, made up of the 61.8% Fibonacci retracement of the February-to-March and the late February low. “There we expect the currency pair to level out today. Resistance is offered initially by the 50% retracement and mid-April low at 140.02/24. Above it the 140.30/46 zone, made up of the February 11 high and March 14 and 21 lows, is to be seen”. She further added, “While the currency pair stays below its 140.95 May 13 high, we will stick to our negative outlook”.
EUR/JPY Levels
With spot trading at 139.20, we can see next resistance ahead at 139.21 (Weekly Classic S1), 139.25 (Daily Open), 139.28 (Monthly Low),139.28 (Weekly Low) and 139.38 (Daily Classic PP). Support below can be found at 139.20 (Hourly 20 EMA), 138.98 (Yesterday's Low), 138.87 (Daily Classic S1), 138.78 (Daily Low) and 138.47(Daily Classic S2).