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25 Nov 2013
EUR/JPY, 4-year highs; 137.40 pavement limits
FXstreet.com (Chicago) - EUR/JPY remains capped below the 137.40 ceilings ahead of a BoJ speech after consolidating strong rally fueling the pair to 4-year highs.
EUR/JPY Technical Levels
Price action reveals the pair remains capped below the 137.40 limit and yet manages to dominate the 4-year altitudes after the consolidation and extension of a rally and upward trendline that started last May 1st 2012). Long-term charts evidence upward trends. Offered at 137.23, the pair navigates between the supports aligned at 136.57 (November 24th lows), 135.35 (November 17th highs) followed by 133.85 (November 20th highs) and the resistances set at 137.34 (November 21st highs), 138 (April 1st 2006 lows) ahead of 138.69 (July 26th 2009 highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish and flows above the EMA20. Market participants expect the BoJ’s Kuroda speech along with the BoJ monetary policy meeting minutes later tonight.
EUR/JPY Technical Levels
Price action reveals the pair remains capped below the 137.40 limit and yet manages to dominate the 4-year altitudes after the consolidation and extension of a rally and upward trendline that started last May 1st 2012). Long-term charts evidence upward trends. Offered at 137.23, the pair navigates between the supports aligned at 136.57 (November 24th lows), 135.35 (November 17th highs) followed by 133.85 (November 20th highs) and the resistances set at 137.34 (November 21st highs), 138 (April 1st 2006 lows) ahead of 138.69 (July 26th 2009 highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish and flows above the EMA20. Market participants expect the BoJ’s Kuroda speech along with the BoJ monetary policy meeting minutes later tonight.