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1 Jul 2015
EUR/JPY: Bears need break below 135.80 - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the Japanese yen advanced against the common currency, with the EUR/JPY closing the day around 136.30, mostly on EUR weakness.
Key Quotes:
"The 1 hour chart shows that the pair found sellers around a bearish 100 SMA, currently around 137.40, while the technical indicators stand below their mid-lines, lacking directional momentum."
"In the 4 hours chart, the downside is also favored, as the price holds below its moving averages, whilst the RSI indicator anticipated additional declines around 39 and the Momentum indicator holds flat below the 100 level."
"A break below 135.80, the daily low, is required to confirm a downward continuation in the pair down to the 134.90/135.00 price zone."
Key Quotes:
"The 1 hour chart shows that the pair found sellers around a bearish 100 SMA, currently around 137.40, while the technical indicators stand below their mid-lines, lacking directional momentum."
"In the 4 hours chart, the downside is also favored, as the price holds below its moving averages, whilst the RSI indicator anticipated additional declines around 39 and the Momentum indicator holds flat below the 100 level."
"A break below 135.80, the daily low, is required to confirm a downward continuation in the pair down to the 134.90/135.00 price zone."