Back
27 Jun 2013
EUR/JPY holding above 127.00
FXstreet.com (Barcelona) - The EUR/JPY cross rate posted a fresh weekly low in early NY session at 126.56, bouncing from there till current 127.33, at around highs in early Asia-Pacific trade. The cross is finding resistance at Monday's/Tuesday's previous weekly lows.
“The hourly chart shows price below 100 and 200 SMA’s, while indicators head higher following latest price correction back above 127.00,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “In bigger time frames however the pair presents a stronger bearish tone, with indicators heading south below their midlines; at the time being price is barely holding above its 100 DMA, currently around 126.90, immediate support to follow.”
The analyst finds support levels at: 126.90, 126.50 and 126.00, while resistance levels at: 127.65, 128.00 and 128.40.
“The hourly chart shows price below 100 and 200 SMA’s, while indicators head higher following latest price correction back above 127.00,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “In bigger time frames however the pair presents a stronger bearish tone, with indicators heading south below their midlines; at the time being price is barely holding above its 100 DMA, currently around 126.90, immediate support to follow.”
The analyst finds support levels at: 126.90, 126.50 and 126.00, while resistance levels at: 127.65, 128.00 and 128.40.