FXStreet (Guatemala) – EUR/JPY is currently trading at 138.22 with a high of 138.68 and a low of 137.80.
EUR/JPY remains better offered after failing to make any kind of real or lasting impact on the top side on the 138 handle. However, the Yen is not performing as well else where, and vs the greenback it is losing ground towards the 124 handle on very little while EUR/USD is now losing its footing also as markets start to favour a no deal scenario for Greece.
EUR/JPY heading back below 138.00?
EUR/JPY continues to be better offered below the 140.70/141.06 resistance and this keeps the focus to the underlying support and in particular to the 2 month uptrend and 200 day ma at 138.04/137.32 but has yet to convince as attempts lower continue to be supported. However, Karen Jones, chief analyst at Commerzbank explained that they are unclear if this is a potential top or a consolidation.
“The market has recently seen repeated failure at the 140.70/141.06 resistance – this has shifted the focus to support. A close below 137.30 will cause the chart picture to deteriorate. Failure here will trigger losses towards the 134.76 55 day ma. Very near term we would allow for a small rally from here but look for failure ahead of 140.70/141.06.”
(Market News Provided by FXstreet)