19 Jun 2014
EUR/JPY holds above 138.40 support
FXStreet (Bali) - EUR/JPY is trading at 138.54, barely changed for the day, having posted a daily high at 138.63 and low at 138.43, lacking direction bias from a +0.2% Nikkei 225 open.
The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is strongly bearish.
Currently RSI is at 44.14, down from the last hourly print at 47.83, with ADX at 16.31, up from its previous close at 15.72.
Daily RSI sits at 39.04, in neutral territory. The pair is still holding above the critical 138.40 support. Wednesday's Yen losses ca ame on the heels of a surge in US stocks, with the SP 500 hitting yet again another record high.
EUR/JPY technicals
According to Valeria Bednarik, Chief Analyst at FXStreet: The hourly chart shows indicators crossing their midlines to the downside, and price breaking below a short term ascendant trend line accelerating lower after completing a pullback. In the 4 hours chart, indicators stand above their midlines that are losing upward strength but not yet suggesting a downward move. Risk is towards the downside on a price acceleration below 138.40, while only a clear recovery above 139.10 will change the bias and favor an upward move."
The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is strongly bearish.
Currently RSI is at 44.14, down from the last hourly print at 47.83, with ADX at 16.31, up from its previous close at 15.72.
Daily RSI sits at 39.04, in neutral territory. The pair is still holding above the critical 138.40 support. Wednesday's Yen losses ca ame on the heels of a surge in US stocks, with the SP 500 hitting yet again another record high.
EUR/JPY technicals
According to Valeria Bednarik, Chief Analyst at FXStreet: The hourly chart shows indicators crossing their midlines to the downside, and price breaking below a short term ascendant trend line accelerating lower after completing a pullback. In the 4 hours chart, indicators stand above their midlines that are losing upward strength but not yet suggesting a downward move. Risk is towards the downside on a price acceleration below 138.40, while only a clear recovery above 139.10 will change the bias and favor an upward move."