29 May 2014
EUR/JPY extends slide, approaching 138.00
FXStreet (Bali) - Currently, EUR/JPY is trading at 138.27, down -0.10% on the day, having posted a daily high at 138.49 and low at 138.26.
How strong has the move been?
The hourly FXStreet OB/OS Index is showing oversold conditions, alongside the FXStreet Trend Index which is slightly bearish. RSI is neutral at 39.71, up from 30.07 at the last hour close, while ADX is trending at 32.22, down from 32.52 previous. Meanwhile, daily RSI is in neutral territory at 33.96. On the hourly EUR/JPY chart, the 200 SMA is climbing and currently at 138.89, up from the previous hour close at 138.89. On average, the exponential closing price for the past 20 days is 139.84, with the trend indicating a continuation lower ahead.
EUR/JPY technicals
According to Valeria Bednarik, Chief Analyst at FXStreet: "The hourly chart is showing price well below 100 and 200 SMAs, both now in the 138.80/90 area and acting as dynamic resistances, while momentum heads lower near oversold levels. CCI diverges some aiming higher, but holds in negative territory, far from suggesting a trend chance. In the 4 hours chart bearish momentum builds up as indicators turn south in negative territory, while the distance between moving averages widens."
How strong has the move been?
The hourly FXStreet OB/OS Index is showing oversold conditions, alongside the FXStreet Trend Index which is slightly bearish. RSI is neutral at 39.71, up from 30.07 at the last hour close, while ADX is trending at 32.22, down from 32.52 previous. Meanwhile, daily RSI is in neutral territory at 33.96. On the hourly EUR/JPY chart, the 200 SMA is climbing and currently at 138.89, up from the previous hour close at 138.89. On average, the exponential closing price for the past 20 days is 139.84, with the trend indicating a continuation lower ahead.
EUR/JPY technicals
According to Valeria Bednarik, Chief Analyst at FXStreet: "The hourly chart is showing price well below 100 and 200 SMAs, both now in the 138.80/90 area and acting as dynamic resistances, while momentum heads lower near oversold levels. CCI diverges some aiming higher, but holds in negative territory, far from suggesting a trend chance. In the 4 hours chart bearish momentum builds up as indicators turn south in negative territory, while the distance between moving averages widens."