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15 Mar 2013
Forex: EUR/JPY hovering around 125.00
Few minutes away from the Tokyo open and later Japan's upper house vote on BoJ nominees around 01:00 GMT, EUR/JPY is last at 125.01, slightly in the positive for the week so far, recovering from fresh weekly lows around the 124.06 in mid Asian session yesterday on the back of combined Euro weakness and Yen strength. The cross is off a double past Friday's/Tuesday's high at 126 round, with high expectations on the BoJ nominees voting coming.
As Valeria Bednarik notes, Chief Analyst at Fxstreet.com: “the hourly chart shows price struggling around its 100 SMA, while indicators turn lower still in positive territory,” the analyst says, adding: “In the 4 hours chart, indicators hover around their midlines, giving not a clear picture yet, although price holds above 100 and 200 SMA, with the latest still above the shorter one, leaving the risk to the downside,” she concludes.
Valeria locates support levels at: 124.50, 124.10 and 123.70, while resistance levels at: 125.20, 125.60 and 126.00.
As Valeria Bednarik notes, Chief Analyst at Fxstreet.com: “the hourly chart shows price struggling around its 100 SMA, while indicators turn lower still in positive territory,” the analyst says, adding: “In the 4 hours chart, indicators hover around their midlines, giving not a clear picture yet, although price holds above 100 and 200 SMA, with the latest still above the shorter one, leaving the risk to the downside,” she concludes.
Valeria locates support levels at: 124.50, 124.10 and 123.70, while resistance levels at: 125.20, 125.60 and 126.00.