23 Mar 2015
EUR/JPY: Governed by the greenback - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the Japanese yen maintained a mild strength last week.
Key Quotes:
"The main theme was the dollar weakness, preventing the EUR/JPY to rally, despite EUR temporal strength."
"The pair flirted a couple of times with the 130.00 level, but remains so far below it, finding intraday sellers around a strongly bearish 100 SMA, currently at 130.70 according to the 4 hours chart."
"In the same time frame, the technical indicators turned lower well into positive territory, lacking bearish signals at the time being."
"Shorter term, the 1 hour chart shows that the technical indicators retraced from overbought territory as the price retraced from the mentioned high, whilst the 100 SMA crosses above the 200 SMA below the current level, with the shorter acting as support around the 128.80 level."
Key Quotes:
"The main theme was the dollar weakness, preventing the EUR/JPY to rally, despite EUR temporal strength."
"The pair flirted a couple of times with the 130.00 level, but remains so far below it, finding intraday sellers around a strongly bearish 100 SMA, currently at 130.70 according to the 4 hours chart."
"In the same time frame, the technical indicators turned lower well into positive territory, lacking bearish signals at the time being."
"Shorter term, the 1 hour chart shows that the technical indicators retraced from overbought territory as the price retraced from the mentioned high, whilst the 100 SMA crosses above the 200 SMA below the current level, with the shorter acting as support around the 128.80 level."