{"id":50850,"date":"2014-05-13T08:29:46","date_gmt":"2014-05-13T12:29:46","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/?p=50850"},"modified":"2014-05-13T08:29:46","modified_gmt":"2014-05-13T12:29:46","slug":"euro-slumps-vs-jpy-losses-will-extend-below-140","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2014\/05\/13\/euro-slumps-vs-jpy-losses-will-extend-below-140\/","title":{"rendered":"Euro Slumps vs JPY; Losses Will Extend Below 140"},"content":{"rendered":"<p>Technical Sentiment:\u00a0<span style=\"color: #ff0000;\"><strong>Bearish<\/strong><\/span><\/p>\n<p><strong>Key Takeaways<\/strong><\/p>\n<ul>\n<li>Euro sentiment takes another hit as economic expectations for Germany decline;<\/li>\n<li>Bundesbank open to significant ECB stimulus in June;<\/li>\n<li>EUR\/JPY rally ends abruptly near 141;<\/li>\n<li>Price will break below 140.00, heading towards 139.12 and 138.00 in the near future.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><em>An unexpected decrease of 10.1 points in the ZEW Indicator of Economic Sentiment added pressure to the existing EURO negative sentiment and led to a quick sell-off across the board. After bouncing from the 140.00 support area, EUR\/JPY is in the midst of another attempt to break below this level. 140.90 is the main pivot acting as resistance and the pair has already formed a Lower High in this area, so a logical continuation will be a Lower Low towards 139.12.<\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><strong>Technical Analysis<\/strong><\/p>\n<p><img decoding=\"async\" src=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/05\/EURJPY-13th-May.png\" alt=\"EURJPY 13th May\" \/><\/p>\n<p style=\"text-align: justify;\">The Euro maintains a negative sentiment and there is little that can change in the next two days, which suggests bears will remain in control for now. During the European Session EUR\/JPY successfully tested and rejected off of April\u2019s support line at 140.97, also 38.2% Fibonacci retracement from 142.46 down to 139.87, confirming the line as the current resistance.<\/p>\n<p style=\"text-align: justify;\">The current target for today, considering the average daily range of EUR\/JPY as of recently, is a test of 140.00 \u2013 139.87. A strong break below 140.00 will trip stop losses and accelerate the sell-off towards 139.13 (61.8% Fibonacci Retracement between 136.21 and 143.77), yet the 200-Day Simple Moving Average (priced at 137.64) will be the main target for such an important support break.<\/p>\n<p style=\"text-align: justify;\">Failure to break below 140.00 is likely to form a short consolidation between 140.00 and 141.00, rather than a consistent bullish reversal. Thus, selling rallies remains the preferred strategy on all timeframes while EUR\/JPY price remains below 141.<\/p>\n<p>*********<br \/>\n<em>Prepared by Alexandru Z., Chief Currency Strategist at <\/em><a href=\"http:\/\/www.capitaltrustmarkets.com\/\"><em>Capital Trust Markets<\/em><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Technical Sentiment:\u00a0Bearish Key Takeaways Euro sentiment takes another hit as economic expectations for Germany decline; Bundesbank open to significant ECB stimulus in June; EUR\/JPY rally ends abruptly near 141; Price will break below 140.00, heading towards 139.12 and 138.00 in the near future. An unexpected decrease of 10.1 points in the ZEW Indicator of Economic &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/forex-news\/2014\/05\/13\/euro-slumps-vs-jpy-losses-will-extend-below-140\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Euro Slumps vs JPY; Losses Will Extend Below 140&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-50850","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/50850","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/comments?post=50850"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/50850\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/media?parent=50850"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/categories?post=50850"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/tags?post=50850"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}