5 Jun 2015
EUR/JPY: Downward d correction coming up? - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that EUR/JPY reached a fresh 5-month high of 141.04.
Key Quotes:
"But ended the day in the red below the 140.00 figure, led by EUR movements as the Japanese yen remained pretty much unchanged ahead of US employment data to be release on Friday."
"The technical picture shows that the price is still far above its moving averages, with the 100 SMA maintaining its bullish slope around 137.90, but that the technical indicators are heading slightly lower below their mid-lines."
"In the 4 hours chart, the technical indicators are heading sharply lower from overbought levels, supporting some downward corrective movement ahead, particularly on a break below 139.60 the immediate support."
Key Quotes:
"But ended the day in the red below the 140.00 figure, led by EUR movements as the Japanese yen remained pretty much unchanged ahead of US employment data to be release on Friday."
"The technical picture shows that the price is still far above its moving averages, with the 100 SMA maintaining its bullish slope around 137.90, but that the technical indicators are heading slightly lower below their mid-lines."
"In the 4 hours chart, the technical indicators are heading sharply lower from overbought levels, supporting some downward corrective movement ahead, particularly on a break below 139.60 the immediate support."