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22 Oct 2013
EUR/JPY reaching 134.45 monthly highs
FXstreet.com (Chicago) - EUR/JPY prints higher lows and highs ahead of Euro-zone data on light data releases journey in Japan.
Weakening yen
According to Valeria Bednarik, FXstreet.com analyst, “the EUR/JPY hourly chart shows price extending above 100 and 200 SMAs’ while indicators head slightly lower still in positive territory, losing previous upward strength. In the 4 hours chart technical readings maintain a positive tone, eyeing 134.93 September high.”
EUR/JPY Technical Levels
Technically speaking, the pair is traded at 134.31 and oscillates between the supports aligned at 134.15 (October 17th highs), 133.78 (October 15th highs) followed by 133.29 (October 16th lows) and the resistances set at 134.72 (September 20th highs), 135.53 (November 8th 2009 highs) followed by 136.73 (June 10th 2009 highs). Extending the upward trendline from last October 7th and within the boundaries of the bullish channel, the pair manages to reach monthly highs on steeper climb with the yen’s weakening.
Weakening yen
According to Valeria Bednarik, FXstreet.com analyst, “the EUR/JPY hourly chart shows price extending above 100 and 200 SMAs’ while indicators head slightly lower still in positive territory, losing previous upward strength. In the 4 hours chart technical readings maintain a positive tone, eyeing 134.93 September high.”
EUR/JPY Technical Levels
Technically speaking, the pair is traded at 134.31 and oscillates between the supports aligned at 134.15 (October 17th highs), 133.78 (October 15th highs) followed by 133.29 (October 16th lows) and the resistances set at 134.72 (September 20th highs), 135.53 (November 8th 2009 highs) followed by 136.73 (June 10th 2009 highs). Extending the upward trendline from last October 7th and within the boundaries of the bullish channel, the pair manages to reach monthly highs on steeper climb with the yen’s weakening.