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20 May 2015
EUR/JY bears giving a little back to the bulls
FXStreet (Guatemala) - EUR/JPY is currently trading at 134.64 with a high of 134.87 and a low of 133.91.
EUR/JPY has risen to the 134.80 resistance again while the greenback is back peddling somewhat pre and post the FOMC minutes that have confirmed that there will not be a rate hike in June, as markets were already expecting. The Fed remain optimistic however that growth will continue over the medium term, despite last quarters disappointments. The bears are giving a little back in a drift to the bulls although fundamentals remain persistently bearish for the Euro with Greece a cause for concern and the recent acknowledgment of the ECB'c intention to be front loading QE before the summer months.
EUR/JPY remans in bearish territory
We are in bearish territory since dropping well below the 136.70/137.26 February high and 200 day ma. To the downside, we are looking at this months lows at 133.10 as initial key support that guards 132.99, being the short term uptrend. A break of here will bring in the focus for 126.08 low over the medium term.
EUR/JPY has risen to the 134.80 resistance again while the greenback is back peddling somewhat pre and post the FOMC minutes that have confirmed that there will not be a rate hike in June, as markets were already expecting. The Fed remain optimistic however that growth will continue over the medium term, despite last quarters disappointments. The bears are giving a little back in a drift to the bulls although fundamentals remain persistently bearish for the Euro with Greece a cause for concern and the recent acknowledgment of the ECB'c intention to be front loading QE before the summer months.
EUR/JPY remans in bearish territory
We are in bearish territory since dropping well below the 136.70/137.26 February high and 200 day ma. To the downside, we are looking at this months lows at 133.10 as initial key support that guards 132.99, being the short term uptrend. A break of here will bring in the focus for 126.08 low over the medium term.