12 Jan 2015
EUR/JPY: Further bearish pressure likely - FXStreet
FXStreet (Bali) - EUR/JPY continues to present a bearish stance, notes Valeria Bednarik, Chief Analyst at FXStreet, supporting further declines on renewed selling pressure around the 140.00 figure, Valeria adds.
Key Quotes
"The EUR/JPY continues to struggle near its latest lows, having flirted with 140.00 at the weekly opening. Despite latest EUR recovery, yen self strength amid weak stocks continues to lead crosses lower."
"The 1 hour chart for the pair shows that indicators hold in negative territory albeit lacking strength at the time being, whilst the price develops well below its moving averages, with 100 SMA offering dynamic resistance some 100 pips above current price."
"In the 4 hours chart Momentum indicators retraces from its 100 line, whilst RSI stands at 28 with no aims of turning back north, supporting further declines on renewed selling pressure around the 140.00 figure."
Key Quotes
"The EUR/JPY continues to struggle near its latest lows, having flirted with 140.00 at the weekly opening. Despite latest EUR recovery, yen self strength amid weak stocks continues to lead crosses lower."
"The 1 hour chart for the pair shows that indicators hold in negative territory albeit lacking strength at the time being, whilst the price develops well below its moving averages, with 100 SMA offering dynamic resistance some 100 pips above current price."
"In the 4 hours chart Momentum indicators retraces from its 100 line, whilst RSI stands at 28 with no aims of turning back north, supporting further declines on renewed selling pressure around the 140.00 figure."