25 Mar 2014
EUR/JPY erases losses, back above 141.00
FXStreet (Córdoba) - The EUR/JPY ended Tuesday practically flat trading around 141.35 with a marginal loss of less than 10 pips. At the beginning of the American session dropped to 140.69, but then, as the Euro surged across the board, reversed and jumped to 141.50. In the last hours of the Wall Street trading stabilized around 141.30/40.
EUR/JPY technical perspective
According to Valeria Bednarik, Chief Analyst at FXStreet, the EUR/JPY maintains a neutral tone in the short-term, “as price moves back and forth around 100 and 200 SMAs (hourly chart), both converging around 141.25, and indicators back around their midlines”.
The 4 hours chart is even less clear notes Bednarik, “with the pair ranging for almost 2 weeks already and no clear directional signs”. She points out that 142.00 remains the key resistance to overcome to see some upward potential.
EUR/JPY technical perspective
According to Valeria Bednarik, Chief Analyst at FXStreet, the EUR/JPY maintains a neutral tone in the short-term, “as price moves back and forth around 100 and 200 SMAs (hourly chart), both converging around 141.25, and indicators back around their midlines”.
The 4 hours chart is even less clear notes Bednarik, “with the pair ranging for almost 2 weeks already and no clear directional signs”. She points out that 142.00 remains the key resistance to overcome to see some upward potential.