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

Monday, October 17, 2016 6:51 AM UTC

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

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