13 Jan 2015
EUR/JPY loses out to the bears and eyes 139.60 support - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted the Japanese yen strength over US hours following a slide in US stocks.
Key Quotes:
"The EUR/JPY fell down to 139.74 before a mild recovery put it back above the 140.00 level, but maintains a dominant bearish tone in the short term, as the 1 hour chart shows an early attempt of recovery was contained by a strongly bearish 100 SMA while indicators remain in negative territory".
"In the 4 hours chart the price has accelerated way below its moving averages, too far away to be relevant indicating bears are in control, while indicators head lower below their midlines, supporting further declines particularly on a break below the 139.60 static support".
Key Quotes:
"The EUR/JPY fell down to 139.74 before a mild recovery put it back above the 140.00 level, but maintains a dominant bearish tone in the short term, as the 1 hour chart shows an early attempt of recovery was contained by a strongly bearish 100 SMA while indicators remain in negative territory".
"In the 4 hours chart the price has accelerated way below its moving averages, too far away to be relevant indicating bears are in control, while indicators head lower below their midlines, supporting further declines particularly on a break below the 139.60 static support".