EUR/JPY is
trading at 139.74, down -0.07% on the day, having posted a daily high at 139.92
and low at 139.69.
EUR/JPY remains sub of the 140 handle having lost territory overnight and has marked fresh lows on from Friday’s business. The pair comes with a bearish bias as a result. In the 4 hours chart indicators present a strong bearish slope and approach their midlines, not yet signalling a bearish continuation according to Valeria Bednarik, chief analyst at FXStreet. “The bearish move can extend down to 139.20, without really affecting the overall positive trend, yet a break below should signal a deeper movement, at least in the short term. Further gains are now expected only on a recovery above 140.40 a bit too far away for this Tuesday”.
EUR/JPY support and resistance levels
Support levels: 139.50 139.20 138.60
Resistance levels: 140.00 140.40 140.80
EUR/JPY remains sub of the 140 handle having lost territory overnight and has marked fresh lows on from Friday’s business. The pair comes with a bearish bias as a result. In the 4 hours chart indicators present a strong bearish slope and approach their midlines, not yet signalling a bearish continuation according to Valeria Bednarik, chief analyst at FXStreet. “The bearish move can extend down to 139.20, without really affecting the overall positive trend, yet a break below should signal a deeper movement, at least in the short term. Further gains are now expected only on a recovery above 140.40 a bit too far away for this Tuesday”.
EUR/JPY support and resistance levels
Support levels: 139.50 139.20 138.60
Resistance levels: 140.00 140.40 140.80
President
of the Fed of Minneapolis Narayana Kocherlakota, voting member this year, gave
a speech on the 'objectives of monetary policy’.
The policymaker noted that "Fed can let inflation exceed 2% to lower the jobless rate", adding that " the Fed should link dual mandate to market stability."
Kocherlakota also mentioned that if inflation remains sub-2% too long, "it may affect expectation", adding that "a sub-2% inflation is as much a problem as above 2%."
Kocherlakota said that Fed should adopt 2-yr benchmark for inflation goal, making the 2% inflation goal a symmetric one.
Kocherlakota added: “Inflation persistently below the 2% target could create doubts in households and businesses about whether the FOMC is truly aiming for 2% inflation, or some lower number. This kind of unmooring of inflation expectations would reduce the effectiveness of monetary policy as a mitigant against adverse macroeconomic shocks.”
The policymaker noted that "Fed can let inflation exceed 2% to lower the jobless rate", adding that " the Fed should link dual mandate to market stability."
Kocherlakota also mentioned that if inflation remains sub-2% too long, "it may affect expectation", adding that "a sub-2% inflation is as much a problem as above 2%."
Kocherlakota said that Fed should adopt 2-yr benchmark for inflation goal, making the 2% inflation goal a symmetric one.
Kocherlakota added: “Inflation persistently below the 2% target could create doubts in households and businesses about whether the FOMC is truly aiming for 2% inflation, or some lower number. This kind of unmooring of inflation expectations would reduce the effectiveness of monetary policy as a mitigant against adverse macroeconomic shocks.”
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Customer Relationship
and Promotion Dept.
FX PIP Signal
support@fxpipsignal.com
Website
http://www.fxpipsignal.com/
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