15 Apr 2014
EUR/JPY in a range below 141.00
FXStreet (Córdoba) - The EUR/JPY continues to trade inside a trading range with support above 140.40 and resistance below 141.00. During all Monday, price action remained inside the range. The pair opened the week making a downside gap, that is still open.
Technical outlook for the EUR/JPY
“The hourly chart shows price remained limited below a bearish 100 SMA, while indicators are now turning south around their midlines”, say Valeria Bednarik, Chief Analyst at FXStreet.
The four hour charts shows indicators at a neutral stance, notes Bednarik. “Albeit the downside remains exposed with the daily chart showing current candle developing fully below its 100 DMA, now offering dynamic resistance around 141.00: as long as below the level, bulls had little chance today”.
Technical outlook for the EUR/JPY
“The hourly chart shows price remained limited below a bearish 100 SMA, while indicators are now turning south around their midlines”, say Valeria Bednarik, Chief Analyst at FXStreet.
The four hour charts shows indicators at a neutral stance, notes Bednarik. “Albeit the downside remains exposed with the daily chart showing current candle developing fully below its 100 DMA, now offering dynamic resistance around 141.00: as long as below the level, bulls had little chance today”.