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8 Jan 2015
EUR/JPY: Mild bearish tone near term - FXStreet
FXStreet (Bali) - According to Valeria Bednarik, Chief Analyst at FXStreet, technically EUR/JPY presents a mild bearish tone near term.
Key Quotes
"The EUR/JPY has shown little progress this Wednesday, with the pair trading steady around the 141.00 level on EUR self weakness."
"The Japanese yen eased against most of its rivals as stocks turned into the green daily basis, but the EUR/JPY was unable to advance beyond the 141.60 price zone."
"Technically and in the short term, the pair presents a mild bearish tone as per the 1 hour chart showing indicators turning lower below their midlines and 100 and 200 SMAs accelerating south well above current price."
"In the 4 hours chart RSI retraces after briefly testing the 30 level, turning south in oversold territory whilst momentum remains well below 100, all of which limits the upside."
Key Quotes
"The EUR/JPY has shown little progress this Wednesday, with the pair trading steady around the 141.00 level on EUR self weakness."
"The Japanese yen eased against most of its rivals as stocks turned into the green daily basis, but the EUR/JPY was unable to advance beyond the 141.60 price zone."
"Technically and in the short term, the pair presents a mild bearish tone as per the 1 hour chart showing indicators turning lower below their midlines and 100 and 200 SMAs accelerating south well above current price."
"In the 4 hours chart RSI retraces after briefly testing the 30 level, turning south in oversold territory whilst momentum remains well below 100, all of which limits the upside."