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17 Jul 2013
EUR/JPY rebounds off 130.50 level
FXstreet.com (New York) - The EUR/JPY technical cross has been in a state of volatility Wednesday ever since Bernanke’s speech during US trading, recently bouncing off the 130.50 region.
In these moments, the EUR/JPY is presently notching a modest gain of +0.09% above it’s opening, now trading at 130.60, Wednesday. Despite initially trading past the 131.00 level (131.39 intraday high), the EUR/JPY is slated to face resistances at 130.82, onto 131.10, and finally 131.40 (previous peak), notes the Danske Research Team.
EUR/JPY strategic bias
According to the Technical Analyst Team at ICN.com, “The EUR/JPY is trading with evident positivity, after initially crossing the barrier at 131.00 and boosting our forecast for an uptrend. The price is receiving constant support from the Moving Average 50 and the stochastic.”
In these moments, the EUR/JPY is presently notching a modest gain of +0.09% above it’s opening, now trading at 130.60, Wednesday. Despite initially trading past the 131.00 level (131.39 intraday high), the EUR/JPY is slated to face resistances at 130.82, onto 131.10, and finally 131.40 (previous peak), notes the Danske Research Team.
EUR/JPY strategic bias
According to the Technical Analyst Team at ICN.com, “The EUR/JPY is trading with evident positivity, after initially crossing the barrier at 131.00 and boosting our forecast for an uptrend. The price is receiving constant support from the Moving Average 50 and the stochastic.”