8 Oct 2014
EUR/JPY price action within negative territory - FXStreet
FXStreet (Barcelona) - Valeria Bednarik, chief analyst at FXStreet explained that the Yen is among the most benefited of the US day.
Key Quotes:
“Not only because of falling stocks, but also because US Yields had erased most of September gains”.
“30-year notes stand near August low of 3.05% while 10-year ones broke below 2.40%”.
“The EUR/JPY traded as low as 136.55, with the pair firm below 137.00 and the hourly chart showing 100 SMA capping the upside now at 137.40 while indicators hold in negative territory, losing downward strength as per a small recovery from mentioned daily low. In the 4 hours chart however, indicators are biased lower well into negative territory, supporting more slides for Asian hours, particularly if local share markets also capitulate”.
“Support levels: 136.40 135.80 135.35”
“Resistance levels: 137.30 137.90 138.50”
Key Quotes:
“Not only because of falling stocks, but also because US Yields had erased most of September gains”.
“30-year notes stand near August low of 3.05% while 10-year ones broke below 2.40%”.
“The EUR/JPY traded as low as 136.55, with the pair firm below 137.00 and the hourly chart showing 100 SMA capping the upside now at 137.40 while indicators hold in negative territory, losing downward strength as per a small recovery from mentioned daily low. In the 4 hours chart however, indicators are biased lower well into negative territory, supporting more slides for Asian hours, particularly if local share markets also capitulate”.
“Support levels: 136.40 135.80 135.35”
“Resistance levels: 137.30 137.90 138.50”