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3 Apr 2014
EUR/JPY consolidates around 143.00 ahead of EZ data, ECB
FXStreet (Córdoba) - The EUR/JPY is steady early in Asia hovering around 143.00, at the same price level it closed, unchanged from Tuesday. During Wednesday’s European session reached at 143.47, a fresh 3-week high.
Consolidation for the EUR/JPY until ECB?
The hourly chart shows indicators turning flat below their midlines, while moving averages are heading higher, currently below the price, points out Valeria Bednarik, Chief Analyst at FXStreet.
“The movement seems merely corrective, with price holding above the 23.6% Fibonacci retracement of its latest bullish run”, affirms Bednarik that expects some consolidation ahead of the ECB’s meeting.
Before the central bank decision economic data in the Eurozone will be released with the Services PMI and retail sales for February.
Consolidation for the EUR/JPY until ECB?
The hourly chart shows indicators turning flat below their midlines, while moving averages are heading higher, currently below the price, points out Valeria Bednarik, Chief Analyst at FXStreet.
“The movement seems merely corrective, with price holding above the 23.6% Fibonacci retracement of its latest bullish run”, affirms Bednarik that expects some consolidation ahead of the ECB’s meeting.
Before the central bank decision economic data in the Eurozone will be released with the Services PMI and retail sales for February.