9 Jul 2014
EUR/JPY: Approach to 139.00 a selling opportunity - FXStreet
FXStreet (Bali) - Valeria Bednarik, Chief Analyst at FXStreet, notes that any approach to 139.00 is now seen as selling opportunity.
Key Quotes
"The EUR/JPY extended its decline on US yields slide, down on the day 6bps. Stocks also had a bad day, with all of US indexes strongly down as earning season quick started with some major disappointments coming from techs."
"The pair maintains a strong bearish tone early Asia, with price nearing critical 137.90 support, and developing well below its moving averages, while indicators maintain a bearish slope."
"In the 4 hours chart technical readings are also favoring the downside, with a break below mentioned level supporting a stronger downward continuation with 136.80 coming then at sight."
"Approaches to 139.00 are now seen as selling opportunities rather than reversals of current bearish trend."
Key Quotes
"The EUR/JPY extended its decline on US yields slide, down on the day 6bps. Stocks also had a bad day, with all of US indexes strongly down as earning season quick started with some major disappointments coming from techs."
"The pair maintains a strong bearish tone early Asia, with price nearing critical 137.90 support, and developing well below its moving averages, while indicators maintain a bearish slope."
"In the 4 hours chart technical readings are also favoring the downside, with a break below mentioned level supporting a stronger downward continuation with 136.80 coming then at sight."
"Approaches to 139.00 are now seen as selling opportunities rather than reversals of current bearish trend."