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31 Mar 2014
EUR/JPY is getting ready for risk events of the European session
FXStreet (Moscow) - EUR/JPY moved away from its intraday high at 141.66 and reached the current level of 141.42 during the quiet Asian trading
Eurozone CPI is in focus
EUR/JPY has been Yen dependent lately. It means that risk sentiments, carry-trade effect and Japanese VAT increase speculations are the order of the day. Generally. the cross has started the day with the consolidation and this dynamics may continue during the European session, at least until the EZ inflation numbers that may trigger a great deal of volatility, as this is the last inflation report before the April ECB meeting. The CPI is expected to grow slightly in February after a sharp drop to 0.6% in January. The data below expectations will make some traders believe that the Central Bank will do something about it this week. Keep an eye at 141.00 on the downside and 141.70 on the upside.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 141.01, with support below at 140.34, 139.29 and 138.62, with resistance above at 142.06, 142.73, and 143.78. Hourly Moving Averages are bullish, with the 200SMA at 141.11 and the daily 20EMA at 141.17. Hourly RSI is neutral at 60.
Eurozone CPI is in focus
EUR/JPY has been Yen dependent lately. It means that risk sentiments, carry-trade effect and Japanese VAT increase speculations are the order of the day. Generally. the cross has started the day with the consolidation and this dynamics may continue during the European session, at least until the EZ inflation numbers that may trigger a great deal of volatility, as this is the last inflation report before the April ECB meeting. The CPI is expected to grow slightly in February after a sharp drop to 0.6% in January. The data below expectations will make some traders believe that the Central Bank will do something about it this week. Keep an eye at 141.00 on the downside and 141.70 on the upside.
What are today’s key EUR/JPY levels?
Today's central pivot point can be found at 141.01, with support below at 140.34, 139.29 and 138.62, with resistance above at 142.06, 142.73, and 143.78. Hourly Moving Averages are bullish, with the 200SMA at 141.11 and the daily 20EMA at 141.17. Hourly RSI is neutral at 60.