25 Jun 2014
EUR/JPY rises but failed to break above 139.00
FXStreet (Córdoba) - The EUR/JPY is about to finish Wednesday with moderate gains and it might post the highest daily close in almost three weeks, but continues to be unable to break above 139.00
During the Asian session bottomed at 138.55 and then turned positive, holding a bullish tone for the rest of the day. The EUR/JPY peaked on American hours at 138.89 and currently remains near the highs.
EUR/JPY technical outlook
“There’s a mild bullish tone coming from the hourly chart as price holds above its 100 SMA, but indicators are losing upward strength above their midlines as price faltered again to extend beyond 139.00”, says Valeria Bednarik, Chief Analyst at FXStreet.
According to her the 4-hour chart technical readings also present a shy bullish tone, “yet some upward acceleration is required to confirm a new leg up”.
During the Asian session bottomed at 138.55 and then turned positive, holding a bullish tone for the rest of the day. The EUR/JPY peaked on American hours at 138.89 and currently remains near the highs.
EUR/JPY technical outlook
“There’s a mild bullish tone coming from the hourly chart as price holds above its 100 SMA, but indicators are losing upward strength above their midlines as price faltered again to extend beyond 139.00”, says Valeria Bednarik, Chief Analyst at FXStreet.
According to her the 4-hour chart technical readings also present a shy bullish tone, “yet some upward acceleration is required to confirm a new leg up”.