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11 Nov 2014
EUR/JPY bulls get behind the uptrend to 144.00
FXStreet (Guatemala) - EUR/JPY is trading at 143.82, up 0.82% on the day, having posted a daily high at 144.03 and low at 142.56.
EUR/JPY has hit the 144 target and met supply that pushed the pair back by 20 pips or where it now finds support. The cross has been in a convincing up trend, however, Karen Jones, chief analyst at Commerzbank is not convinced until the cross breaches above 144.85 stating that this would sever the downtrend and trigger a move to the 145.68 2014 high en route to 150.00.
EUR/JPY noteworthy levels
Current price is 143.83, with resistance ahead at 143.85 (Daily Classic R3), 144.00, 144.52 (Weekly Classic R1), 144.8 and 145.02. Next support to the downside can be found at 143.39 (Daily Classic R2), 143.36 (Hourly 20 EMA), 143.25 and 143.02 (Daily Classic R1).
EUR/JPY has hit the 144 target and met supply that pushed the pair back by 20 pips or where it now finds support. The cross has been in a convincing up trend, however, Karen Jones, chief analyst at Commerzbank is not convinced until the cross breaches above 144.85 stating that this would sever the downtrend and trigger a move to the 145.68 2014 high en route to 150.00.
EUR/JPY noteworthy levels
Current price is 143.83, with resistance ahead at 143.85 (Daily Classic R3), 144.00, 144.52 (Weekly Classic R1), 144.8 and 145.02. Next support to the downside can be found at 143.39 (Daily Classic R2), 143.36 (Hourly 20 EMA), 143.25 and 143.02 (Daily Classic R1).