9 Dec 2014
EUR/JPY: Break below 148.15 targets 148.80 - FXStreet
FXStreet (Bali) - According to Valeria Bednarik, Chief Analyst at FXStreet, renewed selling interest below 148.15/20 low may see the pair extending towards 147.80 price zone.
Key Quotes
"The EUR/JPY cross traded as low as 148.18 on the back of yen strength, retreating sharply from a fresh 6-year high of 149.67. Stocks edged lower in Europe, while US ones point to close also in the red, keeping the yen on demand."
"In terms of technical analysis, in the 4 hours chart indicators have eased from overbought territory but hold above their midlines so far, with RSI aiming to cross its 50 level to the downside. Renewed selling interest below mentioned low may see the pair extending its decline down towards 147.80 price zone, 200 DMA in the 1 hour chart."
Key Quotes
"The EUR/JPY cross traded as low as 148.18 on the back of yen strength, retreating sharply from a fresh 6-year high of 149.67. Stocks edged lower in Europe, while US ones point to close also in the red, keeping the yen on demand."
"In terms of technical analysis, in the 4 hours chart indicators have eased from overbought territory but hold above their midlines so far, with RSI aiming to cross its 50 level to the downside. Renewed selling interest below mentioned low may see the pair extending its decline down towards 147.80 price zone, 200 DMA in the 1 hour chart."