26 May 2015
EUR/JPY bears threatening 132.20 target - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that EUR/JPY extended its decline on EUR weakness, down to 133.24 before settling a handful of pips above the level.
Key Quotes:
"Consolidating in a tight range due to the lack of volume, the pair maintains its short term bearish stance, as the price develops well below its 100 and 200 SMAs in the 1 hour chart, whilst the technical indicators hold in negative territory."
"In the 4 hours chart, the technical indicators are presenting limited upward slopes well into negative territory, rather correcting oversold readings than suggesting an upcoming recovery."
"This month low is set at 133.10, which means a downward acceleration below the level, may trigger some stops and fuel the decline towards the 132.20 region."
Key Quotes:
"Consolidating in a tight range due to the lack of volume, the pair maintains its short term bearish stance, as the price develops well below its 100 and 200 SMAs in the 1 hour chart, whilst the technical indicators hold in negative territory."
"In the 4 hours chart, the technical indicators are presenting limited upward slopes well into negative territory, rather correcting oversold readings than suggesting an upcoming recovery."
"This month low is set at 133.10, which means a downward acceleration below the level, may trigger some stops and fuel the decline towards the 132.20 region."