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14 Feb 2014
EUR/JPY is dangerously close to the support of 139.00
FXStreet (Moscow) - EUR/JPY touched the resistance of 140.00 but new selling interest located around that level pushed the cross lower; it is declining steadily since Tokyo opening and the ke support of 139.00 is already in sight.
Eurozone GDP numbers are in focus
EUR/JPY tried to go down below the support of 139.00 and touched the lows at 138.86, but the downside dynamic was short-lived and the cross finished the day at 139.87 yesterday. The cross was not much of a mover despite huge spike of the single currency. There are quite a lot of important numbers coming out in Europe. In the first place we have GDP in Germany, in France and in Eurozone. These reports may serve as a trigger for Euro today. The single currency has been pretty volatile and sensitive to poor statistics lately. It is expected that the 4Q Eurozone GDP improved to +0/2% q/q, +0.4% q/q against +0/2% q/q, -0.4% q/q in the third quarter. Still nothing to crow about, but considering the poor industrial production numbers from Germany and Eurozone, it may fail to live up even to these weak forecasts. Keep an eye on the key support level of 139.00, followed by 138.80. On the upside the resistance comes at 139.50 and 140.00.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 139.55, with support below at 139.17, 138.50 and 138.12, with resistance above at 140.23, 140.61, and 141.29. Hourly Moving Averages are mixed, with the 200SMA at 138.55 and the daily 20EMA at 139.69. Hourly RSI is neutral at 44.
Eurozone GDP numbers are in focus
EUR/JPY tried to go down below the support of 139.00 and touched the lows at 138.86, but the downside dynamic was short-lived and the cross finished the day at 139.87 yesterday. The cross was not much of a mover despite huge spike of the single currency. There are quite a lot of important numbers coming out in Europe. In the first place we have GDP in Germany, in France and in Eurozone. These reports may serve as a trigger for Euro today. The single currency has been pretty volatile and sensitive to poor statistics lately. It is expected that the 4Q Eurozone GDP improved to +0/2% q/q, +0.4% q/q against +0/2% q/q, -0.4% q/q in the third quarter. Still nothing to crow about, but considering the poor industrial production numbers from Germany and Eurozone, it may fail to live up even to these weak forecasts. Keep an eye on the key support level of 139.00, followed by 138.80. On the upside the resistance comes at 139.50 and 140.00.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 139.55, with support below at 139.17, 138.50 and 138.12, with resistance above at 140.23, 140.61, and 141.29. Hourly Moving Averages are mixed, with the 200SMA at 138.55 and the daily 20EMA at 139.69. Hourly RSI is neutral at 44.