11 Jun 2015
EUR/JPY maintains risk of further losses - FXStreet
FXStreet (Bali) - According to Valeria Bednarik Chief Analyst at FXStreet, EUR/JPY is maintaining the risk towards the downside.
Key Quotes
"The Japanese yen strengthened sharply against all of its rivals, with the EUR/JPY cross falling down to 138.42 daily basis, after BOJ's Governor Kuroda said it was unlikely for the currency to fall further because it was already weak, prompting investors to take profits out from the latest advance."
"The EUR/JPY 1 hour chart shows that the decline stalled around its 200 SMA, with the price now consolidating around it, and with the 100 SMA slowly tuning south around 139.80. In the same chart, the Momentum indicator has corrected sharply lower, although the RSI indicator remains near oversold levels."
"In the 4 hours chart, the Momentum indicator presents a tepid bearish slope below the 100 level, whilst the RSI hovers around 42, lacking bearish strength, but maintaining the risk towards the downside. A break through the daily low, should lead to additional declines towards this Thursday, towards the 137.40 price zone."
Key Quotes
"The Japanese yen strengthened sharply against all of its rivals, with the EUR/JPY cross falling down to 138.42 daily basis, after BOJ's Governor Kuroda said it was unlikely for the currency to fall further because it was already weak, prompting investors to take profits out from the latest advance."
"The EUR/JPY 1 hour chart shows that the decline stalled around its 200 SMA, with the price now consolidating around it, and with the 100 SMA slowly tuning south around 139.80. In the same chart, the Momentum indicator has corrected sharply lower, although the RSI indicator remains near oversold levels."
"In the 4 hours chart, the Momentum indicator presents a tepid bearish slope below the 100 level, whilst the RSI hovers around 42, lacking bearish strength, but maintaining the risk towards the downside. A break through the daily low, should lead to additional declines towards this Thursday, towards the 137.40 price zone."