EURJPY's Resistance

by Ashraf Laidi

May 5, 2009 11:55

EURJPYs ascent to 3-week highs looks increasingly unsustainable from a momentum stand point, with oscillators showing a bearish divergence from the advancing price action. In contrast to the aggressive gains in AUDJPY, NZDJPY and GBPJPY, EURJPY showed faced resistance at 132.80-00. Todays Eurozone April PPI figures showed the biggest annual decline in 22 hears, which could mean the ECB has little choice but to announce the framework for quantitative easing at Thursdays press conference. 130.90 stands as the next main support, followed by 129.70. The combination of ECB information on Thursday and US stress tests on Thursday evening could well be the fundamental catalyst for protracted selling. Upside capped at 134.40.

More Hot-Charts

• Gold & Nasdaq100

  Sep 28, 2026 10:32 | by Ashraf Laidi
  سأرسل رسالة صوتية و كتابية توضيحية لأعضاء مجموعة الواتساب الخاصة حول هذه المخططات - Will send detailed note on latest parameters to our WhatsApp Bdcst Group...
• 

  Gold & GoldBugs

  Sep 24, 2026 11:51 | by Ashraf Laidi
  If the inverse relation between gold and goldbugs index explained repeatedly in previous videos such as here  and here continues to work, then watching the 4230 level is as important as...

• Nasdaq Part 2

  Sep 24, 2026 9:44 | by Ashraf Laidi
  Now that Nasdaq has fallen following yesterday's post, will it extend declines to 30000. What do you think of this fractal.