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21 Oct 2013
EUR/JPY sprints to 134.16 peaks
FXstreet.com (Chicago) - EUR/JPY opened Monday with a strong short rally that attempts consolidation above the 134.10 front ahead of Japanese BoJ Kurod speech and industrial data releases in the Asian country.
Expecting data, speech
Recently released Japanese data disappointed with a merchandise trade balance total at -9232.1B vs. expectations at -920.0B. Within minutes BoJ governor Kuroda is to give at speech along industrial data to be made public within hours.
EUR/JPY Technical Levels
Technically speaking, the pair is offered at 134.08 and oscillates between supports aligned at 133.84 (October 16th highs), 133.54 (October 11th highs) followed by 133.19 (October 2nd highs) and the resistances at 134.18 (October 17th highs), 134.69 (September 20th highs) followed by 135 (September 18th highs). Extending the upward trendline from last October 9th on 1HR charts and with 4HR charts displaying strong momentum with the extension of the bullish channel from last August 9th, the pair targets stronger break out above the 134.20 zone.
Expecting data, speech
Recently released Japanese data disappointed with a merchandise trade balance total at -9232.1B vs. expectations at -920.0B. Within minutes BoJ governor Kuroda is to give at speech along industrial data to be made public within hours.
EUR/JPY Technical Levels
Technically speaking, the pair is offered at 134.08 and oscillates between supports aligned at 133.84 (October 16th highs), 133.54 (October 11th highs) followed by 133.19 (October 2nd highs) and the resistances at 134.18 (October 17th highs), 134.69 (September 20th highs) followed by 135 (September 18th highs). Extending the upward trendline from last October 9th on 1HR charts and with 4HR charts displaying strong momentum with the extension of the bullish channel from last August 9th, the pair targets stronger break out above the 134.20 zone.