6 May 2014
EUR/JPY: Awaiting a technical resolution
FXStreet (Bali) - Currently, EUR/JPY is trading at 141.68, down -0.03% on the day, having posted a daily high at 141.82 and low at 141.67.
How strong has the move been?
The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish. Currently RSI is at 48.93, down from the last hourly print at 51.97, with ADX at 26.51, up from its previous close at 26.40. Daily RSI sits at 52.59, in neutral territory. Looking to momentum indicators, the hourly 200 SMA is currently at 141.76, up from the last close at 141.69 and climbing. Over the past 20 days, the exponential average closing price is 141.59, and ranging.
EUR/JPY technicals
According to Valeria Bednarik, Chief Analyst at FXStreet: "Yen advanced some early Monday as the violence in Ukraine continues to escalate, triggering some risk aversion across the board. However, stocks recovery has helped the pair erase most its intraday loses, trading now a few pips below its daily opening. The hourly chart shows price now hovering below 100 SMA and the 50% retracement of the latest daily bearish run at 141.80 while indicators head higher in positive territory. In the 4 hours chart a mild positive tone is also present, albeit only steady gains beyond 142.20 will support a run higher for the upcoming sessions."
How strong has the move been?
The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish. Currently RSI is at 48.93, down from the last hourly print at 51.97, with ADX at 26.51, up from its previous close at 26.40. Daily RSI sits at 52.59, in neutral territory. Looking to momentum indicators, the hourly 200 SMA is currently at 141.76, up from the last close at 141.69 and climbing. Over the past 20 days, the exponential average closing price is 141.59, and ranging.
EUR/JPY technicals
According to Valeria Bednarik, Chief Analyst at FXStreet: "Yen advanced some early Monday as the violence in Ukraine continues to escalate, triggering some risk aversion across the board. However, stocks recovery has helped the pair erase most its intraday loses, trading now a few pips below its daily opening. The hourly chart shows price now hovering below 100 SMA and the 50% retracement of the latest daily bearish run at 141.80 while indicators head higher in positive territory. In the 4 hours chart a mild positive tone is also present, albeit only steady gains beyond 142.20 will support a run higher for the upcoming sessions."