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Daily cloud base & 50-DMA at 130.43/57 to slow EUR/JPY rise

Source: Thomson Reuters Oversold bullish daily & weekly divergences underpin EUR/JPY Rebound likely to be slowed by cloud base & 50-DMA at 130.43/57, with weekly Tenkan at 130.34 Decent support lies at Kijun & 21-DMA (12…

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Daily cloud base & 50-DMA at 130.43/57 to slow EUR/JPY rise
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Source: Thomson Reuters


  • Oversold bullish daily & weekly divergences underpin EUR/JPY 

  • Rebound likely to be slowed by cloud base & 50-DMA at 130.43/57, with weekly Tenkan at 130.34 

  • Decent support lies at Kijun & 21-DMA (128.87/80) by prior highs; 131.67 key resistance

  • Greek deal seen more likely as Varoufakis is sidelined in talks by own govt

  • EZ-peripheral yields vs JGBs attractive if Greek drama is resolved without default

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