7 Aug 2015
EUR/JPY: downside limited in Asia - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the EUR/JPY posted a short lived intraday spike up to 136.48, failing to extend its gains above the strong resistance level, having spent most of the day confined to a tight 70 pips range.
Key Quotes:
"The 1 hour chart shows that intraday dips found buying interest around its 100 SMA that presents a mild bearish tone around 135.80, whilst the technical indicators lack directional strength around their mid-lines."
"In the 4 hours chart, the pair is a handful of pips above its moving averages, whilst the Momentum indicator is horizontal around 100 and the RSI indicator heads higher around 57, helping in keeping the downside limited at least during the upcoming session."
Key Quotes:
"The 1 hour chart shows that intraday dips found buying interest around its 100 SMA that presents a mild bearish tone around 135.80, whilst the technical indicators lack directional strength around their mid-lines."
"In the 4 hours chart, the pair is a handful of pips above its moving averages, whilst the Momentum indicator is horizontal around 100 and the RSI indicator heads higher around 57, helping in keeping the downside limited at least during the upcoming session."