EUR/JPY Moving Higher Off Intraday Support, Helps USD/JPY In The Process

New York London GMT Tokyo Singapore

EUR/JPY Moving Higher Off Intraday Support, Helps USD/JPY In The Process

By Greg Michalowski on March 31, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

gregmike-02620

The EUR/JPY and the GBP/JPY both found support against the shorter term moving average this (Tuesday) morning.

The EUR/JPY, like the USD/JPY, had been following the 100 bar MA on the 5 minute intraday chart. When the USD/JPY corrected lower after the trend move higher and broke the intraday MA, the EUR/JPY was lagging by a bit. The EUR/JPY pair dipped below the MA level, but bounced immediately. This demand, helped contribute to the USD/JPY bounce.

One thing to note is London/Europe are going home and it is end of quarter trading. This can contribute to position squaring and therefore is subject to supply/demand conditions. This could contribute to more volatile conditions as the day progresses.

Check Out These Related Posts:

If you like this article please...

Subscribe by RSS Subscribe by Email

Email This Post To A Friend

Recent News:

China Shares May Extend Decline - 8 mins ago
Australia November Skilled Vacancies Up 2.4% - DEWR - 10 mins ago
Australia Q3 Total Construction Work Up 2.2% On Quarter - 18 mins ago
Japan Oct Crude Import Bill 643.6 Billion Yen - 25 mins ago
*Australia Q3 Total Construction Work Up 2.2%, Residential Construction Up 2.8% - 30 mins ago

Opinions From Our Contributors

Commodities The New Crude Oil Benchmark That Could Change The Oil Market’s Price Dynamics Why Gold Prices Could Fall From Here… And Two Ways To Play The Move Gold Rush Creating Issues For Gold Buyers Will Copper Continue To Shine In ‘09? When Do We Sell Gold? Silver ETFs: More Gains To Come? Oil Seems Like It’s Going Nowhere… But The Story Is Very Different Below The Surface Distorted IEA Oil Reserve Figures Create Biofuel Opportunities In “White Gold” Region Of Central Asia The Simplest Reason Gold Will Soar Physical Gold, Silver And Oil Out-Performing Their Stocks? Read More »	Financials Washington Examiner: “A Fox Is Guarding The Henhouse At The SEC” US Home Prices Continue To Rise Bank Of America Call Options In Hot Demand Stock Market News: HP, Analog Devices, Heinz, Medtronic Report Strong Results, Citigroup Selling Diners Club To Bank Of Montreal Stock Market Briefs: Twitter May Consider IPO, Tyson Foods Beats Estimates Don’t Count Out Actively Managed ETFs U.S. Bank Failures Reach 124 Financial ETFs Still Remain Vulnerable Ron Paul Thinks That Fed “Oversight Is Laughable” Buffett Borrows For Rail Acquisition Read More »	Exchange Traded Funds Murdoch’s Gamble: Will It Benefit Media ETFs? Why Agriculture ETF Outlook Appears Promising Is Low Interest Creating A Sovereign Debt Bubble? Protect Yourself Against An Imminent Stock Market Correction Japan ETFs: The New War They’re Waging India ETFs: Too Much, Too Soon? ETF Update: Health Stocks And Health Care Legislation Biggest Gainer ETFs For The Week Ended 22 Nov Has Gold Just Broken Out Of Its Trend Channel? What You Should Know About Precious Metals ETFs And Taxes Read More »
Stocks Option Traders Barter For Calls On EBAY Will Emerging-Market Outperformance Last? Stock Market Movers: Dollar Tree, Origin Agritech, US Airways Group How To Value Stocks Using Discounted Cash Flow Stocks To Watch Tuesday: Curis, Cell Therapeutics, Qwest Indian Stock Markets: Sensex Down 49.10 On Tuesday Can The Retail Sector Rouse The Recovery? Stock Charts For Tuesday: S&P 500, Nano, Hertz A Different Look At Recent Breadth Divergences In The NYSE Insider Selling Can Be An Important Tool In Determining Potential Trouble For Both Individual Stocks And The Broader Market Read More »	Forex Risk Aversion Takes A Back Seat In Forex Markets Australian Dollar: Caution Swiss Franc: The Downside Prevails Canadian Dollar: Caution Japanese Yen: Under Pressure British Pound: The Downside Prevails Euro: Under Pressure Watching EUR/USD At The 1.4945 Level Where 100 & 200 Bar Moving Averages Converge Forex Markets Drift Due To Lack Of Drivers Tuesday’s Forex Outlook Read More »	Economy Summary Of Holiday Spending Surveys & Reports Consumer Confidence Increasing The Great Louisiana Healthcare Rip-Off Consumer Attitudes: The Future Of Saving And Spending Economic Highlights: GDP Up 2.8%, Corporate Profits Increase By $130 Billion With T-Bill Yields At Zero, It’s Time To Beware Of The “Bond Bears” U.S. Economy Will Grow Faster Than Expected, Jobs To Return To Growth Next Year, Economists Say Government Debt - The New Subprime? Heeding The Populist Call Here’s A Sector To Short Read More »