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4 Aug 2014
EUR/JPY feeling a little pressure here
FXStreet (Guatemala) - EUR/JPY is trading at 137.65, down -0.09% on the day, having posted a daily high at 137.79 and low at 137.63.
EUR/JPY feeling a little pressure here, pressing towards key support and Karen Jones, chief analyst at Commerzbank explained that the intraday Elliott wave counts are suggesting that we will see gains back to 140. “Dips lower are indicated to terminate circa 137.40 and this guards the 136.37/25 lows. Above 137.76 sees strength to 139.30/the July high and the 140.10 June high, we still look for the 2014 downtrend at 140.65 to cap”.
EUR/JPY Levels
Spot is presently trading at 137.66, and next resistance can be seen at 137.80 (Daily Classic PP). Next support to the downside can be found at 137.56 (Daily 20 SMA) ahead of the space towards the psychological handle.
EUR/JPY feeling a little pressure here, pressing towards key support and Karen Jones, chief analyst at Commerzbank explained that the intraday Elliott wave counts are suggesting that we will see gains back to 140. “Dips lower are indicated to terminate circa 137.40 and this guards the 136.37/25 lows. Above 137.76 sees strength to 139.30/the July high and the 140.10 June high, we still look for the 2014 downtrend at 140.65 to cap”.
EUR/JPY Levels
Spot is presently trading at 137.66, and next resistance can be seen at 137.80 (Daily Classic PP). Next support to the downside can be found at 137.56 (Daily 20 SMA) ahead of the space towards the psychological handle.