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11 Mar 2014
EUR/JPY remaining tight on the 143 handle
FXStreet (Guatemala) - EUR/JPY is quiet along with the EUR/USD and USD/JPY on the cross, lacking impetus on the day.
This week’s release schedule for the Euro is pretty quiet, but we now have the euro area finance ministers’ meeting as officials are set to discuss the bank resolution mechanism. The Yen, however, will be under the spot light also later on and as RBS analysts explained, the Bank of Japan decision is the final BoJ policy announcement before the consumption tax hike comes into effect in April. “As a result, we expect the BoJ to remain largely in wait-and-see territory as it may prefer to assess the economic impact of the impending sales tax hike before acting. No action from the BoJ is the consensus but may be a modest JPY positive”
EUR/JPY Levels
The 20 DMA is 140.42, the 50 DMA is 140.84 and the 200 DMA is 134.92. RSI (14) reads 55.16. Supports are 141.29, 141.77, 142.00, 142.46. Spot is 143.27 while resistances are 143.40, 143.79, 143.83 and 144.43.
This week’s release schedule for the Euro is pretty quiet, but we now have the euro area finance ministers’ meeting as officials are set to discuss the bank resolution mechanism. The Yen, however, will be under the spot light also later on and as RBS analysts explained, the Bank of Japan decision is the final BoJ policy announcement before the consumption tax hike comes into effect in April. “As a result, we expect the BoJ to remain largely in wait-and-see territory as it may prefer to assess the economic impact of the impending sales tax hike before acting. No action from the BoJ is the consensus but may be a modest JPY positive”
EUR/JPY Levels
The 20 DMA is 140.42, the 50 DMA is 140.84 and the 200 DMA is 134.92. RSI (14) reads 55.16. Supports are 141.29, 141.77, 142.00, 142.46. Spot is 143.27 while resistances are 143.40, 143.79, 143.83 and 144.43.