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20 Aug 2015
EUR/JPY headed to the 200 DMA, but what about Tsipras?
FXStreet (Guatemala) - EUR/JPY is currently trading at 138.35 with a high of 138.66 and a low of 137.60.
EUR/JPY has made a full recovery back on to the 138 handle, but remains below the 138.83 downtrend and 200 DMA while the bulls still have some work to do yet to get out of neutral territory on the daily sticks.
The euro has been gathering pace vs the greenback and this aiding the cross for the time being, post the FOMC minutes that were dovish and general unwinding on shorts. The next risk for the cross comes with Tsipras who is reported to be resigning. We will get more on the hour on this situation where Greek media have suggested he will make a statement at 17GMT. However, uncertainties such as this could hinder the crosses advance to the 200 DMA resistance zone.
EUR/JPY onwards and upwards
Karen Jones, chief analyst at Commerzbank explained that they look for a retest of the 100% Fibonacci extension of the July bounce at 138.85 while only a currently unexpected slip below the 136.21 uptrend would open-up the possibility of a slide to key support at 133.30/10, the lows seen since May, unfolding "The market has been capped by this level for three times recently and this is the near term break-point for 140.67/141.06."
EUR/JPY has made a full recovery back on to the 138 handle, but remains below the 138.83 downtrend and 200 DMA while the bulls still have some work to do yet to get out of neutral territory on the daily sticks.
The euro has been gathering pace vs the greenback and this aiding the cross for the time being, post the FOMC minutes that were dovish and general unwinding on shorts. The next risk for the cross comes with Tsipras who is reported to be resigning. We will get more on the hour on this situation where Greek media have suggested he will make a statement at 17GMT. However, uncertainties such as this could hinder the crosses advance to the 200 DMA resistance zone.
EUR/JPY onwards and upwards
Karen Jones, chief analyst at Commerzbank explained that they look for a retest of the 100% Fibonacci extension of the July bounce at 138.85 while only a currently unexpected slip below the 136.21 uptrend would open-up the possibility of a slide to key support at 133.30/10, the lows seen since May, unfolding "The market has been capped by this level for three times recently and this is the near term break-point for 140.67/141.06."