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19 Sep 2013
EUR/JPY firm above 134.50 zone
FXstreet.com (Chicago) - EUR/JPY extended the upward trendline that started yesterday on FOMC and Fed results.
Bullish Europe or weak yen?
On a light data release journey for the Euro-zone, the pair extended the upswing against a weaker yen. Equity markets in the old continent closed with the CAC 40 up 0.85%, the DAX up 0.67% and the Euronext 100 up 0.70%. In Japan the Nikkei 225 registered 1.80% wins after indexes outperformed expectations with the leading economy index at 107.9 vs. past 107.3 and the coincident index at 107.7 vs. past 106.6.
EUR/JPY Technical Levels
Price action reveals bullish primary and secondary trends with short-term movement matching longer-term action. The pair consolidates the upward trendline that started yesterday after the FOMC presented weaker US economic projections and the Fed maintained its $85B bond-buying program. A spike to 134.97 session highs confirmed heavy buying but the pair failed to reach the 135.00 zone. Offered at 134.51, the pair oscillates between supports aligned at 134.28 (January 3rd 2010 highs), 133.80 (May 15th highs) ahead of 133.33 (September 10th highs) and resistances set at 134.93 (September 13th 2009 highs), 135.30 (November 2010 highs) followed by 135.82 (July 2009 highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis and is offered above the EMA20.
Bullish Europe or weak yen?
On a light data release journey for the Euro-zone, the pair extended the upswing against a weaker yen. Equity markets in the old continent closed with the CAC 40 up 0.85%, the DAX up 0.67% and the Euronext 100 up 0.70%. In Japan the Nikkei 225 registered 1.80% wins after indexes outperformed expectations with the leading economy index at 107.9 vs. past 107.3 and the coincident index at 107.7 vs. past 106.6.
EUR/JPY Technical Levels
Price action reveals bullish primary and secondary trends with short-term movement matching longer-term action. The pair consolidates the upward trendline that started yesterday after the FOMC presented weaker US economic projections and the Fed maintained its $85B bond-buying program. A spike to 134.97 session highs confirmed heavy buying but the pair failed to reach the 135.00 zone. Offered at 134.51, the pair oscillates between supports aligned at 134.28 (January 3rd 2010 highs), 133.80 (May 15th highs) ahead of 133.33 (September 10th highs) and resistances set at 134.93 (September 13th 2009 highs), 135.30 (November 2010 highs) followed by 135.82 (July 2009 highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis and is offered above the EMA20.