18 Dec 2014
EUR/JPY back up into less negative territory
FXStreet (Guatemala) - EUR/JPY has been left to Asia over a cent higher for yesterdays business as the EUR rides the risk on waves which the Yen has taken a hit upon as result of the FOMC in the US session overnight.
The currencies were volatile over the released of the statement Yellen’s accompanying press conference as markets digested the confusions at first over the remarks made within the initial statement and then the clarification that came from Yellen’s press conference.
The change of language used within the statement, initially buying the dollar on the back of the removal of “considerable time” before stocks rallied further in a better risk environment damaging the Yen.
Technically, there is some way higher to go yet to meet where the market recently charted a new high at 149.79 when it was accompanied by a major divergence of the daily RSI, as noted by Karen Jones, chief analysts at Commerzbank. “The market will stay directly offered below 148.45…Only above 150.35 will target the 78.6% retracement of the move down from 2008 at 153.35”.
The currencies were volatile over the released of the statement Yellen’s accompanying press conference as markets digested the confusions at first over the remarks made within the initial statement and then the clarification that came from Yellen’s press conference.
The change of language used within the statement, initially buying the dollar on the back of the removal of “considerable time” before stocks rallied further in a better risk environment damaging the Yen.
Technically, there is some way higher to go yet to meet where the market recently charted a new high at 149.79 when it was accompanied by a major divergence of the daily RSI, as noted by Karen Jones, chief analysts at Commerzbank. “The market will stay directly offered below 148.45…Only above 150.35 will target the 78.6% retracement of the move down from 2008 at 153.35”.