12 May 2015
EUR/JPY: Giving no clear directional signs - FXStreet
FXStreet (Bali) - The current technical stance in EUR/JPY shows no directional strength, giving no clear signs, notes Valeria Bednarik, Chief Analyst at FXStreet.
Key Quotes
"The EUR/JPY edged lower on Monday, weighed by EUR weakness. The pair fell down to 133.48 early in the Asian session, and later recoveries were capped by selling interest in the 134.00/20 region."
"Technically, the 1 hour chart shows that the price stands below a bullish 200 SMA, currently around 134.10, whilst the 100 SMA stands at 134.60, becoming a critical resistance level for the upcoming hours, as a break above it is required to confirm additional gains."
"The technical indicators in the mentioned time frame are showing no directional strength right above their mid-lines, giving no clear directional signs. In the 4 hours, chart the technical indicators aim higher below their mid-lines, also suggesting additional advances are required before considering an upward continuation."
Key Quotes
"The EUR/JPY edged lower on Monday, weighed by EUR weakness. The pair fell down to 133.48 early in the Asian session, and later recoveries were capped by selling interest in the 134.00/20 region."
"Technically, the 1 hour chart shows that the price stands below a bullish 200 SMA, currently around 134.10, whilst the 100 SMA stands at 134.60, becoming a critical resistance level for the upcoming hours, as a break above it is required to confirm additional gains."
"The technical indicators in the mentioned time frame are showing no directional strength right above their mid-lines, giving no clear directional signs. In the 4 hours, chart the technical indicators aim higher below their mid-lines, also suggesting additional advances are required before considering an upward continuation."