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25 May 2015
EUR/JPY: Risk remains to the downside - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that EUR/JPY traded in the red during the past week.
Key Quotes:
"...having been capped early Monday by the 200 DMA currently around 136.90."
"The Japanese yen held ground against a weaker EUR, as the Bank of Japan decided to keep its economic policy unchanged this month. Nevertheless, both currencies traded generally lower against the greenback, leaving the cross confined to a tight range."
"Technically, the 4 hours chart shows that the price finally broke below its 100 SMA on Friday after struggling around it for most of the week, whilst the Momentum indicator heads lower below the 100 level and the RSI indicator holds flat around 39."
"With the price barely holding around a 2-week low, the risk remains towards the downside, with a break below the 133.00 level required to confirm a midterm bearish continuation, with another strong support standing around 132.00, the 100 DMA."
Key Quotes:
"...having been capped early Monday by the 200 DMA currently around 136.90."
"The Japanese yen held ground against a weaker EUR, as the Bank of Japan decided to keep its economic policy unchanged this month. Nevertheless, both currencies traded generally lower against the greenback, leaving the cross confined to a tight range."
"Technically, the 4 hours chart shows that the price finally broke below its 100 SMA on Friday after struggling around it for most of the week, whilst the Momentum indicator heads lower below the 100 level and the RSI indicator holds flat around 39."
"With the price barely holding around a 2-week low, the risk remains towards the downside, with a break below the 133.00 level required to confirm a midterm bearish continuation, with another strong support standing around 132.00, the 100 DMA."