11 Mar 2015
EUR/JPY: Yen making back some ground - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet, explained that the Japanese yen surged strongly against most of its rivals.
Key Quotes:
"Boosted by the strong decline in equities' markets, and with the EUR/JPY breaking below the key 130.00 figure during the American afternoon."
"The pair trades at levels not seen since early August 2013, and the 1 hour chart shows that the Momentum and the RSI indicators turned south after a limited upward correction, all occurring in extreme oversold levels."
"In the 4 hours chart indicators are biased lowed also in extreme oversold levels, with no signs of changing bias any time soon."
"The next strong support is located at the 129.00 figure, with a break below it pointing for a downward continuation towards 128.10, the monthly 100 SMA."
Key Quotes:
"Boosted by the strong decline in equities' markets, and with the EUR/JPY breaking below the key 130.00 figure during the American afternoon."
"The pair trades at levels not seen since early August 2013, and the 1 hour chart shows that the Momentum and the RSI indicators turned south after a limited upward correction, all occurring in extreme oversold levels."
"In the 4 hours chart indicators are biased lowed also in extreme oversold levels, with no signs of changing bias any time soon."
"The next strong support is located at the 129.00 figure, with a break below it pointing for a downward continuation towards 128.10, the monthly 100 SMA."