25 Mar 2014
EUR/JPY trapped in a 142.00-140.50 familiar range
FXStreet (Bali) - EUR/JPY is trading around the 141.41, off a weekly high of 141.85 achieved in early Europe, with a setback back to 140.75 support following, although it was counter-attacked by a vigorous rebound in the US.
From an hourly perspective, the EUR/JPY is trading within a 142-140.50 range, with a break of either side necessary to set the next directional bias.
According to Valeria Bednarik, Chief Analyst at FXStreet: "EUR/JPY is trading back below its 200 SMA in the hourly chart. In the same time frame, momentum turns lower right above their midlines, reflecting poor buying interest in the pair, while the 4 hours chart shows price within recent range: the upside remains contained as long as price stands below the 142.00 mark, with a break below 140.40 required to confirm a bearish directional move."
From an hourly perspective, the EUR/JPY is trading within a 142-140.50 range, with a break of either side necessary to set the next directional bias.
According to Valeria Bednarik, Chief Analyst at FXStreet: "EUR/JPY is trading back below its 200 SMA in the hourly chart. In the same time frame, momentum turns lower right above their midlines, reflecting poor buying interest in the pair, while the 4 hours chart shows price within recent range: the upside remains contained as long as price stands below the 142.00 mark, with a break below 140.40 required to confirm a bearish directional move."