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21 May 2014
EUR/JPY waiting the BoJ decision, currently offered
FXStreet (Guatemala) - EUR/JPY is trading at 138.72, down -0.08% on the day, having posted a daily high at 138.88 and low at 138.70.
EUR/JPY is on the offer and the FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is strongly bearish. RBS strategist s explained that their economics team has revised up their growth forecast for Japan to 1.1% y/y for FY 2014 from 0.5%. The latest trade data will be released for April as well and a slowdown in imports, likely linked to a slowdown in consumer demand after the tax hike, may reduce the trade deficit. We are waiting for the Bank of Japan decision.
EUR/JPY Levels
With spot trading at 138.73, we can see next resistance ahead at 138.74 (Daily Classic S1), 138.82 (Hourly 20 EMA), 138.88 (Daily Open), 138.88 (Daily High) and 139.02 (Daily Classic PP). Support below can be found at 138.70 (Daily Low), 138.55 (Yesterday's Low), 138.34 (Daily Classic S2), 138.22 (Weekly Classic S1) and 138.06 (Daily Classic S3).
EUR/JPY is on the offer and the FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is strongly bearish. RBS strategist s explained that their economics team has revised up their growth forecast for Japan to 1.1% y/y for FY 2014 from 0.5%. The latest trade data will be released for April as well and a slowdown in imports, likely linked to a slowdown in consumer demand after the tax hike, may reduce the trade deficit. We are waiting for the Bank of Japan decision.
EUR/JPY Levels
With spot trading at 138.73, we can see next resistance ahead at 138.74 (Daily Classic S1), 138.82 (Hourly 20 EMA), 138.88 (Daily Open), 138.88 (Daily High) and 139.02 (Daily Classic PP). Support below can be found at 138.70 (Daily Low), 138.55 (Yesterday's Low), 138.34 (Daily Classic S2), 138.22 (Weekly Classic S1) and 138.06 (Daily Classic S3).