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3 Dec 2014
EUR/JPY awaiting Tokyo traders while 148.00 caps upside
FXStreet (Guatemala) - EUR/JPY has failed on the 148 handle again and fell back t the 147.60 supporting territory while we await the Nikkei to open.
Further strength in the Nikkei could result in support and demand for USD/JPY with tests for higher grounds on the 119 handle which should aid the cross and certainly the Yen may be sold on Central Bank divergence and should traders pick up on the Fed officials bullishness from speeches made early on in the US shift overnight there could be a flurry to the greenback again.
Valeira Bednarik, chief analyst at FXStreet explained that technically, in the 4 hours chart the pair presents a neutral to bullish stance, as despite lacking direction, indicators hold above their midlines and moving averages below current price. “The 147.20 level continues to be the main support to follow, and the level to break to confirm a downward extension in the pair down to 146.40 price zone”.
Further strength in the Nikkei could result in support and demand for USD/JPY with tests for higher grounds on the 119 handle which should aid the cross and certainly the Yen may be sold on Central Bank divergence and should traders pick up on the Fed officials bullishness from speeches made early on in the US shift overnight there could be a flurry to the greenback again.
Valeira Bednarik, chief analyst at FXStreet explained that technically, in the 4 hours chart the pair presents a neutral to bullish stance, as despite lacking direction, indicators hold above their midlines and moving averages below current price. “The 147.20 level continues to be the main support to follow, and the level to break to confirm a downward extension in the pair down to 146.40 price zone”.