15 Jul 2014
EUR/JPY: Technicals maintain positive tone - FXStreet
FXStreet (Bali) - EUR/JPY shows a constructive price action, suggesting that a further recovery may be seen, notes Valeria Bednarik, Chief Analyst at FXStreet.
Key Quotes
"Yen gave back most of the ground added late past week as stocks advanced: all American indexes advanced strongly albeit Dow Jones fresh high took center stage, helping EUR/JPY returning 138.40 price zone."
"The pair however, halted around the strong static resistance, and the hourly chart shows price was also rejected from its 200 SMA, while indicators correct their overbought readings."
"In the 4 hours chart however, technical readings maintain the positive tone, with a break above mentioned resistance probably signaling a continuation towards 138.90 price zone."
Key Quotes
"Yen gave back most of the ground added late past week as stocks advanced: all American indexes advanced strongly albeit Dow Jones fresh high took center stage, helping EUR/JPY returning 138.40 price zone."
"The pair however, halted around the strong static resistance, and the hourly chart shows price was also rejected from its 200 SMA, while indicators correct their overbought readings."
"In the 4 hours chart however, technical readings maintain the positive tone, with a break above mentioned resistance probably signaling a continuation towards 138.90 price zone."