EUR/JPY a steady play into Asia based on 139 handle
FXStreet (Guatemala) – EUR/JPY is trading at 139.08, up 0.01% on the day, having posted a daily high at 139.20 and low at 139.06.
EUR/JPY has seen some slight activity overnight although the pair is back to it’s starting lines as we are handed over to Asia. Valeria Bednarik, chief analyst at FXStreet explained that the stocks had a big feast and the Yen crosses saw some upward momentum after the headlines, and should have remained supported by rising stocks, but 10year notes erased all of their intraday gains before the closing bell, capping the rallies. “In the 4 hours chart the technical picture is neutral, with indicators around their midlines and moving averages flat, giving little support to latest recovery. Some steady gains beyond 139.35 may support some upward continuation, eyeing then the critical 140.00 figure, albeit further gains are not seen for the last day of the week”.
With spot trading at 139.10, we can see next resistance ahead at 139.14 (Daily 200 SMA), 139.20 (Daily High), 139.22 (Daily Classic R1), 139.31 (Yesterday’s High) and 139.42 (Daily Classic R2). Support below can be found at 139.09 (Daily Open), 139.09 (Weekly High), 139.07 (Hourly 20 EMA), 139.06 (Daily Low) and 138.96 (Weekly Classic R1).
For more information, read our latest forex news.