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31 Aug 2015
EUR/JPY biased lower, 136.60 key resistance - FXStreet
FXStreet (Bali) - According to Valeria Bednarik, Chief Analyst at FXStreet, EUR/JPY's daily bias remains lower, with 136.60 key resistance.
Key Quotes
"With August about to end, the monthly chart shows a third doji in-a-row, a clear sign that the market is dollar-dependent these days."
"Daily basis, the pair is biased lower, with the 100 DMA around 136.60 capping the upside and the technical indicators heading south well below their mid-lines."
"Shorter term, the 4 hours chart suggest the pair may advance some before retreating further, as the RSI indicator aims higher around 44 whilst the Momentum indicator is crossing its mid-line towards the upside."
"In the same chart however, the price remains well below its moving averages, with the 200 SMA around 136.60, reinforcing the strength of the resistance level."
"A steady advance beyond it, should signal an upward continuation for this Monday, while an extension below 135.50 should confirm a downward continuation towards fresh lows."
Key Quotes
"With August about to end, the monthly chart shows a third doji in-a-row, a clear sign that the market is dollar-dependent these days."
"Daily basis, the pair is biased lower, with the 100 DMA around 136.60 capping the upside and the technical indicators heading south well below their mid-lines."
"Shorter term, the 4 hours chart suggest the pair may advance some before retreating further, as the RSI indicator aims higher around 44 whilst the Momentum indicator is crossing its mid-line towards the upside."
"In the same chart however, the price remains well below its moving averages, with the 200 SMA around 136.60, reinforcing the strength of the resistance level."
"A steady advance beyond it, should signal an upward continuation for this Monday, while an extension below 135.50 should confirm a downward continuation towards fresh lows."