23 Jun 2014
EUR/JPY rebounds at 138.25, 4-day low
FXStreet (Córdoba) - The EUR/JPY dropped during the European session to 138.25 reaching the lowest price since June 17 but then rebounded. The pair trimmed losses on American hours and after Wall Street closing rose to 138.65.
The Euro is about to close slightly lower versus the Yen, 15 pips below the price it opened the week.
EUR/JPY technical outlook
“The downside remains favored as per price being unable to establish itself above 139.00, says Valeria Bednarik, Chief Analyst at FXStreet.
According to her the hourly chart shows price struggling around a flat 100 Simple Moving Average, “as indicators head higher around their midlines, but the fact that the pair posted a 3 day low daily basis, surely doesn’t look encouraging for bulls”.
The Euro is about to close slightly lower versus the Yen, 15 pips below the price it opened the week.
EUR/JPY technical outlook
“The downside remains favored as per price being unable to establish itself above 139.00, says Valeria Bednarik, Chief Analyst at FXStreet.
According to her the hourly chart shows price struggling around a flat 100 Simple Moving Average, “as indicators head higher around their midlines, but the fact that the pair posted a 3 day low daily basis, surely doesn’t look encouraging for bulls”.