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FxWirePro: EUR/JPY holds 20-DMA support, focus on Eurozone final CPI data

EUR/JPY trades a narrow range ahead of release of Eurozone’s final Sept CPI data. Analysts see no reason to expect any deviation from the initial print of 0.4% Y/Y. Major resistance lies at 100-DMA currently at 115.33, b…

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FxWirePro: EUR/JPY holds 20-DMA support, focus on Eurozone final CPI data
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  • EUR/JPY trades a narrow range ahead of release of Eurozone’s final Sept CPI data. 
     
  • Analysts see no reason to expect any deviation from the initial print of 0.4% Y/Y. 
     
  • Major resistance lies at 100-DMA currently at 115.33, break above finds next hurdle at 116 (trendline).
     
  • Break below 20-DMA support at 114.08 could see drag upto 113 (trendline).
     
  • Major support levels - 114.08 (20-DMA), 113, 112.85 (trendline), 112.78 (Aug 24 low)
     
  • Major resistance levels - 114.47 (5-DMA), 115 (10-DMA), 115.33 (100-DMA)
     
  • Our previous call (http://www.econotimes.com/FxWirePro-EUR-JPY-bounces-off-20-DMA-with-spinning-top-formation-downtrend-intact-348761) has achieved TP1.
     
  • We recommend holding for targets.
     

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