12 Jun 2015
EUR/JPY: Acceleration below 138.45 required - FXStreet
FXStreet (Bali) - According to Valeria Bednarik, Chief Analyst at FXStreet, a bearish acceleration below 138.45 in EUR/JPY is required to confirm additional declines, the Analyst explains in her daily report.
Key Quotes
"The EUR/JPY ended the day slightly lower, as both currencies were equally weak against the greenback on Thursday. There was no relevant data in Japan, although the country will release some manufacturing figures during the upcoming Asian session that may affect briefly JPY crosses."
"In the meantime, the technical picture presents a mild bearish tone, as the price is developing below its 100 and 200 SMAs, with the shortest around 139.20, acting as key intraday resistance, whilst the technical indicators present tepid bearish slopes below their mid-lines."
"In the 4 hours chart, the picture is not that clear, as the price remains well above strongly bullish moving averages, whilst the Momentum indicator has turned north, but still below its mid-line, whist the RSI indicator lacks directional strength around 44. A bearish acceleration below 138.45 is required to confirm additional declines, towards the 137.40 region, a strong static support area."
Key Quotes
"The EUR/JPY ended the day slightly lower, as both currencies were equally weak against the greenback on Thursday. There was no relevant data in Japan, although the country will release some manufacturing figures during the upcoming Asian session that may affect briefly JPY crosses."
"In the meantime, the technical picture presents a mild bearish tone, as the price is developing below its 100 and 200 SMAs, with the shortest around 139.20, acting as key intraday resistance, whilst the technical indicators present tepid bearish slopes below their mid-lines."
"In the 4 hours chart, the picture is not that clear, as the price remains well above strongly bullish moving averages, whilst the Momentum indicator has turned north, but still below its mid-line, whist the RSI indicator lacks directional strength around 44. A bearish acceleration below 138.45 is required to confirm additional declines, towards the 137.40 region, a strong static support area."