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15 Apr 2015
EUR/JPY: Holding in as better bid - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that the Japanese yen maintain its strength during the past Asian session, driving the EUR/JPY down to 126.08 before the dollar's slump favored a recovery up to 127.62.
Key Quotes:
"Technically, the short term picture shows that the price stalled well below a bearish 100 SMA, currently around 127.90, whilst the technical indicators are losing their upward potential above their mid-lines, limiting chances of a stronger recovery."
"In the 4 hours chart the technical indicators have corrected oversold readings, but stalled right below their mid-lines, and are now turning lower, supporting the shorter term view. Only some follow through beyond the 128.10 will see the pair extending its advance intraday, approaching then the 129.00 region."
Key Quotes:
"Technically, the short term picture shows that the price stalled well below a bearish 100 SMA, currently around 127.90, whilst the technical indicators are losing their upward potential above their mid-lines, limiting chances of a stronger recovery."
"In the 4 hours chart the technical indicators have corrected oversold readings, but stalled right below their mid-lines, and are now turning lower, supporting the shorter term view. Only some follow through beyond the 128.10 will see the pair extending its advance intraday, approaching then the 129.00 region."