28 Apr 2015
EUR/JPY bulls need 130 as a base - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that EUR/JPY has shown little progress, with the pair finding again selling interest near the 130.00 figure, but trading within Friday's range.
Key Quotes:
"According to the 1 hour chart, the pair maintains a mild positive tone, as the price continues to add above its 100 and 200 SMAs, with the shortest now heading higher around 129.00."
"In the same chart, the technical indicators have partially lows their upward strength but hold well above their mid-lines."
"In the 4 hours chart, the price stands above a flat 200 SMA whilst the technical indicators have also turned lower, but remain above their mid-lines, giving not much clues on what's next for the pair."
"As commented on previous updates, the price needs to firm up above the 130.00 level to be able to post more sustainable gains, up to the 131.10 level, whilst below 129.00 the risk turns towards the downside."
Key Quotes:
"According to the 1 hour chart, the pair maintains a mild positive tone, as the price continues to add above its 100 and 200 SMAs, with the shortest now heading higher around 129.00."
"In the same chart, the technical indicators have partially lows their upward strength but hold well above their mid-lines."
"In the 4 hours chart, the price stands above a flat 200 SMA whilst the technical indicators have also turned lower, but remain above their mid-lines, giving not much clues on what's next for the pair."
"As commented on previous updates, the price needs to firm up above the 130.00 level to be able to post more sustainable gains, up to the 131.10 level, whilst below 129.00 the risk turns towards the downside."