2 May 2014
EUR/JPY ranging below 142.00
FXStreet (Bali) - EUR/JPY is trading in a very tight range at the Tokyo open, contained by the 142.00 area, following a 142.03 - 141.73 range, and with traders mostly sidelined ahead of NFP.
The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish. Currently RSI is at 37.54, down from the last hourly print at 45.87, with ADX at 38.03, up from its previous close at 15.10. Daily RSI sits at 55.05, in neutral territory. Looking to momentum indicators, the hourly 200 SMA is currently at 141.76, up from the last close at 141.66 and climbing. Over the past 20 days, the exponential average closing price is 141.56, and trending higher.
Technically, according to Valeria Bednarik, Chief Analyst at FXStreet: "Trading right above the 50% retracement of the 143.47/140.07 bearish run, the hourly hart shows indicators heading lower around their midlines, yet price holding above its moving averages. In the 4 hours chart the technical picture is quite alike, while the daily chart shows total lack of technical direction. Either a break above 142.40 or below 141.60 is required to confirm a more directional movement for the upcoming sessions."
The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish. Currently RSI is at 37.54, down from the last hourly print at 45.87, with ADX at 38.03, up from its previous close at 15.10. Daily RSI sits at 55.05, in neutral territory. Looking to momentum indicators, the hourly 200 SMA is currently at 141.76, up from the last close at 141.66 and climbing. Over the past 20 days, the exponential average closing price is 141.56, and trending higher.
Technically, according to Valeria Bednarik, Chief Analyst at FXStreet: "Trading right above the 50% retracement of the 143.47/140.07 bearish run, the hourly hart shows indicators heading lower around their midlines, yet price holding above its moving averages. In the 4 hours chart the technical picture is quite alike, while the daily chart shows total lack of technical direction. Either a break above 142.40 or below 141.60 is required to confirm a more directional movement for the upcoming sessions."