EUR/JPY: consolidating the recovery - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that EUR/JPY fell to its lowest for the week, hitting 113.90 with the JPY benefiting from Asian and European equities, which closed sharply lower.

Key Quotes:

"The pair however, bounced alongside with the EUR/USD pair, although its poised to close the day well into the red. Short term, the bearish potential is still strong, as in the 1 hour chart, the 100 SMA has crossed below the 200 SMA well above the current level, whilst technical indicators pared their advances around their mid-lines, and are now turning lower."