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4 Mar 2015
EUR/JPY: Hourly indicators turn south - FXStreet
FXStreet (Bali) - Valeria Bednarik, Chief Analyst at FXStreet, shares her technical view on EUR/JPY, noting that hourly indicators turned lower after testing their mid-lines.
Key Quotes
"The Japanese Yen surged against most of its rivals during the previous Asian session, supported by comments from Etsuro Honda, an economic adviser of Japanese Prime Minister Shinzo Abe, saying the BOJ should refrain from adding further stimulus at least for some time, in an interview given earlier today to the Wall Street Journal."
"The EUR/JPY fell as low as 133.66 during the American afternoon, bouncing as stocks recovered from their lows, although capped by 134.00. The 1 hour chart shows that the price continues to trade below a bearish 100 SMA currently around 134.20, whist the technical indicators turned lower after testing their mid-lines."
"In the 4 hours chart the technical indicators maintain a neutral stance, hovering around their mid-lines, whilst the price develops below its moving averages, pointing for some additional declines, particularly if the pair breaks below 133.45, this week low."
Key Quotes
"The Japanese Yen surged against most of its rivals during the previous Asian session, supported by comments from Etsuro Honda, an economic adviser of Japanese Prime Minister Shinzo Abe, saying the BOJ should refrain from adding further stimulus at least for some time, in an interview given earlier today to the Wall Street Journal."
"The EUR/JPY fell as low as 133.66 during the American afternoon, bouncing as stocks recovered from their lows, although capped by 134.00. The 1 hour chart shows that the price continues to trade below a bearish 100 SMA currently around 134.20, whist the technical indicators turned lower after testing their mid-lines."
"In the 4 hours chart the technical indicators maintain a neutral stance, hovering around their mid-lines, whilst the price develops below its moving averages, pointing for some additional declines, particularly if the pair breaks below 133.45, this week low."