FXstreet.com (San Francisco) - EUR/JPY continues to trade quietly around the 97.25 level this Wednesday in Asia, limited between 97.10 and 97.30 after Tuesday’s rally.
The immediate upside offers resistance in the 97.40 area (9-day EMA; 23.6%, 101.59/96.15) and, above there, at 97.86 (12 July high) then 98.20 (21-day EMA; 38.2%, mentioned downswing). To the downside, support lies at 96.80 (4 June low), 96.41 (12 July low) and 96.15 (16 July low).
In the 1-hour timeframe, EUR/JPY has moved above the 100 EMA, while the RSI and CCI trade above their midlines yet below the critical 70 and +100 levels, respectively. The 4-hour chart shows RSI operating in neutral territory, while CCI looks poised to cross back below the overbought mark.
The immediate upside offers resistance in the 97.40 area (9-day EMA; 23.6%, 101.59/96.15) and, above there, at 97.86 (12 July high) then 98.20 (21-day EMA; 38.2%, mentioned downswing). To the downside, support lies at 96.80 (4 June low), 96.41 (12 July low) and 96.15 (16 July low).
In the 1-hour timeframe, EUR/JPY has moved above the 100 EMA, while the RSI and CCI trade above their midlines yet below the critical 70 and +100 levels, respectively. The 4-hour chart shows RSI operating in neutral territory, while CCI looks poised to cross back below the overbought mark.
