jump to navigation

EUR/JPY pulling back early Thursday after big up day Wednesday; next upside target 145.76 January 12, 2014

Posted by seonpage in Uncategorized.
Tags: , , , , , , , ,

FXstreet.com (Barcelona) – EUR/JPY resumed the upside Wednesday as the cross reflected the very strong “risk-on” attitude. Thursday, though, EUR/JPY is pulling back – but not technical signs of a major sell-off exist right now.

EUR/JPY traders have to rely on technicals for the most part Thursday

Global traders will likely continue to use EUR/JPY as a risk proxy, but Thursday’s remaining economic data points due out that may have an impact on the EUR/JPY include:

• European Council Meeting
• EuroZone Current Account

Technical outlook for EUR/JPY

Technicians say the EUR/JPY may have just commenced the first wave correction higher Wednesday, but today’s pullback is being seen as a chance for those who missed Wednesday’s rally to get in on the potential upward action. Resistance for the macro move comes in at 145.76. Support starts at Wednesday’s low of 140.98 and is backed up by the 12/2 closing high of 139.38.



No comments yet — be the first.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s