10 Apr 2014
EUR/JPY consolidates below 141.00
FXStreet (Córdoba) - The EUR/JPY peaked during the Asian session at 141.54 but then bounced to the downside and erased all gains. The decline found support at the 140.60 area from where it bounced.
During the American session traded above 141.00 but failed to hold and during the last hours has been steady, hovering around 140.90, 0.30% lower for the day.
Technical outlook for the EUR/JPY
According to Valeria Bednarik, Chief Analyst at FXStreet the hourly chart shows the EUR/JPY slightly bearish and indicators turning flat into neutral territory. "In the 4 hours chart price stand below moving averages, while indicators turn south retracing from their midlines”.
Immediate short term support comes at 140.40 points out Bednarik, warning that a break below, “should trigger a downward continuation towards 139.90 price zone”.
During the American session traded above 141.00 but failed to hold and during the last hours has been steady, hovering around 140.90, 0.30% lower for the day.
Technical outlook for the EUR/JPY
According to Valeria Bednarik, Chief Analyst at FXStreet the hourly chart shows the EUR/JPY slightly bearish and indicators turning flat into neutral territory. "In the 4 hours chart price stand below moving averages, while indicators turn south retracing from their midlines”.
Immediate short term support comes at 140.40 points out Bednarik, warning that a break below, “should trigger a downward continuation towards 139.90 price zone”.