7 May 2015
EUR/JPY support an ongoing upward tone - FXStreet
FXStreet (Bali) - According to Valeria Bednarik, Chief Analyst at FXStreet, technicals in EUR/JPY are supporting an ongoing upward tone.
Key Quotes
"Euro self strength drove the EUR/JPY cross to a fresh 3-month high of 135.68, as the Japanese yen saw a limited advance, despite dollar tepid data and the sharp decline in Wall Street."
"The short term picture shows that the pair advanced above a bullish 100 SMA that provided intraday support during the past Asian session and now around 134.30, whilst the Momentum indicator stands flat above 100 and the RSI indicator heads slightly higher around 71, supporting ongoing upward tone."
"In the 4 hours chart the technical indicators are losing their upward strength well above their mid-lines, whilst the price extended further above its moving averages in the 130.00 region, adding to the shorter term bullish case."
Key Quotes
"Euro self strength drove the EUR/JPY cross to a fresh 3-month high of 135.68, as the Japanese yen saw a limited advance, despite dollar tepid data and the sharp decline in Wall Street."
"The short term picture shows that the pair advanced above a bullish 100 SMA that provided intraday support during the past Asian session and now around 134.30, whilst the Momentum indicator stands flat above 100 and the RSI indicator heads slightly higher around 71, supporting ongoing upward tone."
"In the 4 hours chart the technical indicators are losing their upward strength well above their mid-lines, whilst the price extended further above its moving averages in the 130.00 region, adding to the shorter term bullish case."