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2 Oct 2013
EUR/JPY below EMA20; targets 132.60
FXstreet.com (Chicago) - EUR/JPY started Tokyo’s opening weak to then spike to 132.66 highs printing higher lows and attempting to break through 132.60.
Expert’s perspective
Jim Langlands from FXstreet states “The PM, Mr Abe, announced his economic package, broadly in line with expectations and will proceed with the sale tax hike to 8% from 5%, which he said was designed to combine economic growth and fiscal reform.” He adds “Later today, we have the ECB rate decision (no change expected), but with the chances of a dovish press conference”.
EUR/JPY Technical Levels
Technically speaking, the pair is offered at 132.50 and oscillates between supports at 132.22 (September 16th highs), 131.83 (September 18th highs), 131.43 (September 2nd highs) and resistances set at 132.60 (September 28th lows), 133.00 (September 23rd lows), 133.30 (September 10th highs).
Expert’s perspective
Jim Langlands from FXstreet states “The PM, Mr Abe, announced his economic package, broadly in line with expectations and will proceed with the sale tax hike to 8% from 5%, which he said was designed to combine economic growth and fiscal reform.” He adds “Later today, we have the ECB rate decision (no change expected), but with the chances of a dovish press conference”.
EUR/JPY Technical Levels
Technically speaking, the pair is offered at 132.50 and oscillates between supports at 132.22 (September 16th highs), 131.83 (September 18th highs), 131.43 (September 2nd highs) and resistances set at 132.60 (September 28th lows), 133.00 (September 23rd lows), 133.30 (September 10th highs).