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20 Mar 2014
EUR/JPY drifting to the upside on Yen weakness
FXStreet (Guatemala) - EUR/JPY is drifting on the bid and along the ascending support line formed from Tuesday’s lows at 140.80.
EUR/JPY has reached highs in North American markets through 141.80 and met supply at 141.97 resistance. The cross is currently oscillating between 141.40/60 range and lacks impetus from a lack luster Asian session. Up later, we have European data in the form of German PPI, seen up 0.1% MoM. The main theme is Yen weakness while markets are nervous ahead of the tax hike on April 1st and risk on is more or less back into play.
EUR/JPY Levels
The 20 DMA is 141.19, the 50 DMA is 140.63 and the 200 DMA is 135.35. RSI (14) reads 48. Supports are ascending from 139.87, 140.21, 140.44, 140.75. Spot is 141.58 while resistances are 141.97, 142.22, 142.52 and 143.38.
EUR/JPY has reached highs in North American markets through 141.80 and met supply at 141.97 resistance. The cross is currently oscillating between 141.40/60 range and lacks impetus from a lack luster Asian session. Up later, we have European data in the form of German PPI, seen up 0.1% MoM. The main theme is Yen weakness while markets are nervous ahead of the tax hike on April 1st and risk on is more or less back into play.
EUR/JPY Levels
The 20 DMA is 141.19, the 50 DMA is 140.63 and the 200 DMA is 135.35. RSI (14) reads 48. Supports are ascending from 139.87, 140.21, 140.44, 140.75. Spot is 141.58 while resistances are 141.97, 142.22, 142.52 and 143.38.