25 Jun 2014
EUR/JPY: Little hopes of a bullish run - FXStreet
FXStreet (Bali) - EUR/JPY continues well capped by 139.00, with Valeria Bednarik, Chief Analyst at FXStreet, noting that there is little hopes of a sustained bullish run from current levels.
Key Quotes
"Yen crosses are still comatose unable to advance as US stocks shed early gain and closed in red for second day in a row. Yields down also helped yen hold its ground, and the EUR/JPY ends the day pretty much unchanged again, still trading below 139.00."
"In the short term, the hourly chart shows price just a few pips above its 100 SMA while 200 one offers support around 138.40; indicators however, turned lower and approach their midlines, giving little hopes of a bullish run. In the 4 hours chart the technical stance is bearish, as price remains capped below 100 SMA while momentum turns lower around its midline."
Key Quotes
"Yen crosses are still comatose unable to advance as US stocks shed early gain and closed in red for second day in a row. Yields down also helped yen hold its ground, and the EUR/JPY ends the day pretty much unchanged again, still trading below 139.00."
"In the short term, the hourly chart shows price just a few pips above its 100 SMA while 200 one offers support around 138.40; indicators however, turned lower and approach their midlines, giving little hopes of a bullish run. In the 4 hours chart the technical stance is bearish, as price remains capped below 100 SMA while momentum turns lower around its midline."