Back
10 Mar 2014
EUR/JPY ranging on 143 handle
FXStreet (Guatemala) - EUR/JPY has in general been holding the 143 handle and ranges between there and the high 143.65. The pair printed a low of 142.85 at the off over night but data wasn’t favourable from Japan.
Overnight, Japans data gave us Gross Domestic Product (GDP) that grew 0.2 pct in October-December, and posted a weak 0.7 pct annual growth. RBS analysts explained the Bank of Japan decision overnight 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 44.89. Supports are 141.29, 141.77, 142.00, 142.46. Spot is 143.19 while resistances are 143.40, 143.79, 143.83 and 144.43.
Overnight, Japans data gave us Gross Domestic Product (GDP) that grew 0.2 pct in October-December, and posted a weak 0.7 pct annual growth. RBS analysts explained the Bank of Japan decision overnight 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 44.89. Supports are 141.29, 141.77, 142.00, 142.46. Spot is 143.19 while resistances are 143.40, 143.79, 143.83 and 144.43.