5 Mar 2015
EUR/JPY: Licking its wounds post heavy overnight supply
FXStreet (Guatemala) - EUR/JPY is currently trading at 132.65 with a high of 132.69 and a low of 132.51.
EUR/JPY is tending to wounds, as are Yen crosses else where, post a scene of softness in equities, the euro and a subsequent heavy lot of supply overnight, firstly from above 133.60 in the euro cross and the next slide following at 133.20 support to the overnight low, 132.40.
Valeria Bednarik, chief analyst at FXStreet explained that, from a technical point of view, the bearish momentum seems exhausted in the short term, as the price stands well below its 100 and 200 SMAs, while the indicators aim slightly higher still in extreme oversold territory.
EUR/JPY is tending to wounds, as are Yen crosses else where, post a scene of softness in equities, the euro and a subsequent heavy lot of supply overnight, firstly from above 133.60 in the euro cross and the next slide following at 133.20 support to the overnight low, 132.40.
Valeria Bednarik, chief analyst at FXStreet explained that, from a technical point of view, the bearish momentum seems exhausted in the short term, as the price stands well below its 100 and 200 SMAs, while the indicators aim slightly higher still in extreme oversold territory.