9 Jun 2014
EUR/JPY absorbing offers 140.00+
FXStreet (Bali) - EUR/JPY is pressing against the 140.00 round number in early Tokyo, currently sitting just above the level, with the Nikkei 225 up +0.73 at the open.
According to Valeria Bednarik, Chief Analyst at FXStreet, "the EUR/JPY maintains a positive outlook at least in the short term, with the hourly chart shows price steady above 100 SMA offering short term support now in the 139.50 area and well above 200 one around 139.00."
In the 4 hours chart, Valeria adds: "EUR/JPY shows a mild bullish tone coming from technical readings that should at least keep the downside limited. Above 140.00 a quick run towards 140.40 seems likely albeit this last has prove strong in the past: only steady gains above it will signal a continued recovery in the pair for the days to come."
According to Valeria Bednarik, Chief Analyst at FXStreet, "the EUR/JPY maintains a positive outlook at least in the short term, with the hourly chart shows price steady above 100 SMA offering short term support now in the 139.50 area and well above 200 one around 139.00."
In the 4 hours chart, Valeria adds: "EUR/JPY shows a mild bullish tone coming from technical readings that should at least keep the downside limited. Above 140.00 a quick run towards 140.40 seems likely albeit this last has prove strong in the past: only steady gains above it will signal a continued recovery in the pair for the days to come."