24 Jul 2014
EUR/JPY steady into Asia she goes
FXStreet (Guatemala) - EUR/JPY is trading at 136.68, up 0.04% on the day, having posted a daily high at 136.75 and low at 136.62.
Despite the recent activity across the NZD in Asia, EUR/JPY has remained relatively unchanged and Valeria Bednarik, chief analyst at FXStreet, explained that the EUR/JPY was again weighted by EUR weakness, albeit the slide remained limited by stocks positive tone along the day. “The hourly chart shows moving averages maintain a strong bearish bias above current price, while indicators lay flat above their midlines, indicating little buying interest around.
EUR/JPY 4 hour chart indicates 137.50 trgt
“In the 4 hours chart however, indicators aim higher still in negative territory, with RSI bouncing from oversold levels, pointing for some advance ahead: in that case 137.00 price zone stands as immediate resistance and only above it the pair may extend it advance, eyeing 137.50 in the short term”.
Despite the recent activity across the NZD in Asia, EUR/JPY has remained relatively unchanged and Valeria Bednarik, chief analyst at FXStreet, explained that the EUR/JPY was again weighted by EUR weakness, albeit the slide remained limited by stocks positive tone along the day. “The hourly chart shows moving averages maintain a strong bearish bias above current price, while indicators lay flat above their midlines, indicating little buying interest around.
EUR/JPY 4 hour chart indicates 137.50 trgt
“In the 4 hours chart however, indicators aim higher still in negative territory, with RSI bouncing from oversold levels, pointing for some advance ahead: in that case 137.00 price zone stands as immediate resistance and only above it the pair may extend it advance, eyeing 137.50 in the short term”.