27 Jun 2014
EUR/JPY faces downside risk this Friday - FXStreet
FXStreet (Bali) - EUR/JPY presents a clear bearish momentum supporting the downside for this Friday, notes Valeria Bednarik, Chief Analyst at FXStreet.
Key Quotes
"Upcoming Asian session bringing the release of inflation, employment and retail trade data of the country, which can fuel current Japanese currency strength along with local share markets if they decide to follow their oversea partners."
"Latest bounce extends to current 138.40 area, former support, with the hourly chart showing price below its 100 and 200 SMAs and indicators flat in negative territory. In the 4 hours chart technical indicators present a clear bearish momentum that maintains the risk to the downside for this Friday."
Key Quotes
"Upcoming Asian session bringing the release of inflation, employment and retail trade data of the country, which can fuel current Japanese currency strength along with local share markets if they decide to follow their oversea partners."
"Latest bounce extends to current 138.40 area, former support, with the hourly chart showing price below its 100 and 200 SMAs and indicators flat in negative territory. In the 4 hours chart technical indicators present a clear bearish momentum that maintains the risk to the downside for this Friday."