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3 Mar 2015
EUR/JPY giving no clues on upcoming moves - FXStreet
FXStreet (Bali) - Price action in EUR/JPY is giving no clear clues on upcoming moves, notes Valeria Bedanrik, Chief Analyst at FXStreet.
Key Quotes
"The Japanese Yen weakened against most rivals, in lack luster movements across the board. With no relevant data coming from Japan these days, the Asian currency is mostly being lead by stocks, as US indexes surged in the American afternoon, flirting with multi-year highs ahead of the close."
"As for the EUR/JPY, the 1 hour chart shows that the price is being limited by a bearish 100 SMA around the current level, whilst 200 SMA also presents a bearish slope around 134.85, becoming the key resistance in the case of additional advances. The Momentum indicator heads higher above 100 along with the RSI indicator, heading north around 59."
"In the 4 hours chart the price develops below its moving averages, while the technical indicators diverge between each other in neutral territory, giving no clear clues on upcoming moves."
Key Quotes
"The Japanese Yen weakened against most rivals, in lack luster movements across the board. With no relevant data coming from Japan these days, the Asian currency is mostly being lead by stocks, as US indexes surged in the American afternoon, flirting with multi-year highs ahead of the close."
"As for the EUR/JPY, the 1 hour chart shows that the price is being limited by a bearish 100 SMA around the current level, whilst 200 SMA also presents a bearish slope around 134.85, becoming the key resistance in the case of additional advances. The Momentum indicator heads higher above 100 along with the RSI indicator, heading north around 59."
"In the 4 hours chart the price develops below its moving averages, while the technical indicators diverge between each other in neutral territory, giving no clear clues on upcoming moves."