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10 Apr 2013
Forex: EUR/JPY shuffles into US session
FXstreet.com (Barcelona) - EUR/JPY has remained range bound throughout today's trading, moving largely between support around 129.50 and a high at 13.50.
The majority of the days movement came within a condensed period in which both the BoJ and the Fed hit the airwaves. Spot dipped after BoJ Governor Kuroda spoke to tell markets to not expect an avalanche of JPY capital outflows, but recovered after the Fed brought forward the FOMC minutes to market open after a leak was exposed. The result was that little had changed amongst participants and spot swiftly reverted back to mid range. Currently trading at 130.20, price remains within touching distance of highs, but looks to be contained in the short term by daily R1 resistance at 13.29. Hourly MA´s show an upside bias, while RSI is ranging around mid point at 57.
The majority of the days movement came within a condensed period in which both the BoJ and the Fed hit the airwaves. Spot dipped after BoJ Governor Kuroda spoke to tell markets to not expect an avalanche of JPY capital outflows, but recovered after the Fed brought forward the FOMC minutes to market open after a leak was exposed. The result was that little had changed amongst participants and spot swiftly reverted back to mid range. Currently trading at 130.20, price remains within touching distance of highs, but looks to be contained in the short term by daily R1 resistance at 13.29. Hourly MA´s show an upside bias, while RSI is ranging around mid point at 57.