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19 Mar 2014
EUR/JPY remains sideways above 140.40
FXStreet (Córdoba) - The EUR/JPY finished with moderate losses on Tuesday hovering around 141.25/30. After losing momentum near 142.00 the pair pulled back, bottoming during the European session at 140.70. From there it bounced rising back above 141.00.
Technical outlook for the EUR/JPY
The pair continues to move sideways since last Thursday, with a slightly bullish bias, with a key support area between 140.40 (March 14 low) and 140.70 (Mar 18 low). The upside faces strong resistance in the short-term at 142.00 and above here the next comes at 142.20/30 (March 12 low).
From a technical perspective, according to Valeria Bednarik, Chief Analyst at FXStreet, as long as the EUR/JPY holds above 140.40, the risk to the downside remains limited “and more gains are likely, confirmed on a break above 142.00”.
Technical outlook for the EUR/JPY
The pair continues to move sideways since last Thursday, with a slightly bullish bias, with a key support area between 140.40 (March 14 low) and 140.70 (Mar 18 low). The upside faces strong resistance in the short-term at 142.00 and above here the next comes at 142.20/30 (March 12 low).
From a technical perspective, according to Valeria Bednarik, Chief Analyst at FXStreet, as long as the EUR/JPY holds above 140.40, the risk to the downside remains limited “and more gains are likely, confirmed on a break above 142.00”.