13 May 2015
EUR/JPY lost upward potential - FXStreet
FXStreet (Bali) - According to Valeria Bednarik, Chief Analyst at FXStreet, technical indicators in EUR/JPY have lost their upward potential and present a mild negative tone.
Key Quotes
"The EUR/JPY cross eased from a fresh weekly high set at 135.28, giving back half of its intraday gains on the back of EUR late weakness."
"The Japanese yen has made little progress so far this week, still fall from attracting traders either side of the board, as the USD/JPY keeps struggling around the 120.00 region, ever since late March."
"As for the EUR/JPY, the 1 hour chart shows that the price is trying to break below its 100 SMA, whilst the Momentum indicator heads strongly lower above 100, but the RSI indicator has turned horizontal around 54."
"A stronger support for the upcoming hours, comes at 134.30, the 200 SMA with a mild bullish slope. In the 4 hours chart the price stands well above its moving averages, while the technical indicators have lost their upward potential and present a mild negative tone around their mid-lines."
Key Quotes
"The EUR/JPY cross eased from a fresh weekly high set at 135.28, giving back half of its intraday gains on the back of EUR late weakness."
"The Japanese yen has made little progress so far this week, still fall from attracting traders either side of the board, as the USD/JPY keeps struggling around the 120.00 region, ever since late March."
"As for the EUR/JPY, the 1 hour chart shows that the price is trying to break below its 100 SMA, whilst the Momentum indicator heads strongly lower above 100, but the RSI indicator has turned horizontal around 54."
"A stronger support for the upcoming hours, comes at 134.30, the 200 SMA with a mild bullish slope. In the 4 hours chart the price stands well above its moving averages, while the technical indicators have lost their upward potential and present a mild negative tone around their mid-lines."