26 Jul 2013
EUR/JPY plunges towards fresh intraday lows
FXstreet.com (New York) - The EUR/JPY technical cross has continued weakening during US trading Friday, now establishing fresh intraday lows in these moments.
EUR/JPY strategic bias
Having continued its gradual decent without pause, the EUR/JPY is now operating at just 130.25 (session low), down a staunch -1.17% off its opening Friday. Technically speaking, after falling below the 130.44 support, the Danske Research Team calculates the EUR/JPY will be buffered by support at 130.29, ahead of 129.98.
According to the Technical Analyst Team at ICN.com, “The EUR/JPY has reached the bullish channel's support, along with momentum indicators approaching oversold areas. That supports chances of a potential bullish rebound that will back our overall positive expectation. Note that a daily closing below 130.65 will halt the outlook for the uptrend on the intraday basis.”
EUR/JPY strategic bias
Having continued its gradual decent without pause, the EUR/JPY is now operating at just 130.25 (session low), down a staunch -1.17% off its opening Friday. Technically speaking, after falling below the 130.44 support, the Danske Research Team calculates the EUR/JPY will be buffered by support at 130.29, ahead of 129.98.
According to the Technical Analyst Team at ICN.com, “The EUR/JPY has reached the bullish channel's support, along with momentum indicators approaching oversold areas. That supports chances of a potential bullish rebound that will back our overall positive expectation. Note that a daily closing below 130.65 will halt the outlook for the uptrend on the intraday basis.”