20 Jun 2014
EUR/JPY flirting with 200 DMA - Scotiabank
FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank noted that the EUR/JPY had a notably quiet session but is flirting with an upside break of its 200‐day moving average at 138.93.
Key Quotes:
"Fundamental data was limited but did include a widening in the Eurozone current account surplus to 21.5bn and a softening in PPI in Germany. In the near‐term EUR is likely to be comfortable trading within its recent 1.3503 to 1.3690 range. In the medium term we expect EUR to soften, closing the year at 1.30."
"EUR/USD short‐term technicals: mixed—suggesting that EUR is vulnerable to range trading in the near‐term."
Key Quotes:
"Fundamental data was limited but did include a widening in the Eurozone current account surplus to 21.5bn and a softening in PPI in Germany. In the near‐term EUR is likely to be comfortable trading within its recent 1.3503 to 1.3690 range. In the medium term we expect EUR to soften, closing the year at 1.30."
"EUR/USD short‐term technicals: mixed—suggesting that EUR is vulnerable to range trading in the near‐term."