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18 Jul 2013
EUR/JPY still capped below 131.00
FXstreet.com (Barcelona) - The EUR/JPY foreign exchange cross rate is last quoted at 130.71, off London session weekly highs at 131.37, but still little changed from previous Asia-Pacific open yesterday.
EUR/JPY no upward momentum for now
"The EUR/JPY managed to advance some, entering Asian session above former resistance in the 130.50 area, and with the hourly chart showing moving averages heading higher below current price as indicators stand around their midlines, suggesting some buying interest around,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, who adds: “In the 4 hours chart technical readings stand in positive territory, although showing no actual upward momentum at the time being.”
EUR/JPY key technical levels
Bednarik finds support levels at: 130.50, 130.10 and 129.60, while resistance levels at: 131.00, 131.45 and 131.90.
EUR/JPY no upward momentum for now
"The EUR/JPY managed to advance some, entering Asian session above former resistance in the 130.50 area, and with the hourly chart showing moving averages heading higher below current price as indicators stand around their midlines, suggesting some buying interest around,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, who adds: “In the 4 hours chart technical readings stand in positive territory, although showing no actual upward momentum at the time being.”
EUR/JPY key technical levels
Bednarik finds support levels at: 130.50, 130.10 and 129.60, while resistance levels at: 131.00, 131.45 and 131.90.