4 Aug 2015
EUR/JPY: losing 136 handle, falling on Yen strength - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that the EUR/JPY fell down to 135.58 by the end of the American session, with the Japanese yen finding strength in falling US stocks and the EUR self weakness.
Key Quotes:
"The pair has reached a strong static support level, suggesting a limited bounce may be seen in the current region, albeit the short term bias is bearish, as in the 1 hour chart, the pair is developing well below its 100 and 200 SMAs, whilst the technical indicators hold near oversold territory, losing their bearish strength."
"In the 4 hours chart, the price is a handful of pips below its 100 SMA, whilst the Momentum indicator holds flat around 100 and the RSI heads lower around 42, maintaining the risk towards the downside, despite the limited directional strength seen at the time being."
Key Quotes:
"The pair has reached a strong static support level, suggesting a limited bounce may be seen in the current region, albeit the short term bias is bearish, as in the 1 hour chart, the pair is developing well below its 100 and 200 SMAs, whilst the technical indicators hold near oversold territory, losing their bearish strength."
"In the 4 hours chart, the price is a handful of pips below its 100 SMA, whilst the Momentum indicator holds flat around 100 and the RSI heads lower around 42, maintaining the risk towards the downside, despite the limited directional strength seen at the time being."