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17 Mar 2014
EUR/JPY finds resistance at 142.00
FXStreet (Córdoba) - The EUR/JPY started the week with a positive tone and finished higher trading at 141.60, with a gain of 65 pips. A weak Japanese Yen pushed the EUR/JPY to the upside.
The pair is moving with a bullish bias in the short-term, recovering after falling last week. The recovery from below 141.00 fund resistance at the beginning of the American session at 142.00, from where pulled back and trimmed gains.
According to Valeria Bednarik, Chief Analyst at FXStreet, the 4 hours chart indicators stand below their midlines, “turning lower and helping limiting the upside, but not yet confirming a downward continuation”.
Ahead of the the Asian session, Bednarik notes that the pair will be mostly lead by local share markets, “favoring an upward continuation if Nikkei surges following their overseas partners”.
The pair is moving with a bullish bias in the short-term, recovering after falling last week. The recovery from below 141.00 fund resistance at the beginning of the American session at 142.00, from where pulled back and trimmed gains.
According to Valeria Bednarik, Chief Analyst at FXStreet, the 4 hours chart indicators stand below their midlines, “turning lower and helping limiting the upside, but not yet confirming a downward continuation”.
Ahead of the the Asian session, Bednarik notes that the pair will be mostly lead by local share markets, “favoring an upward continuation if Nikkei surges following their overseas partners”.