5 Aug 2015
EUR/JPY: gaining bearish strength - FXStreet
FXStreet (Guatemala) - Valeria Bednarik noted that EUR/JPY slipped on EUR's weakness, extending its decline by a few pips below the past week low and reaching 135.26 before bouncing some.
Key Quotes:
"The pair has been trading in quite a limited range for these past few days, which makes of this slide a more significant one, when it comes to determinate a possible break out. Short term, the 1 hour chart shows that the price retreated from a strongly bearish 100 SMA, whilst the technical indicators head lower below their mid-lines, and the RSI indicator approaches oversold levels."
"In the 4 hours chart the pair is now trading below its 100 SMA for the first time in two weeks, whilst the technical indicators have gained bearish strength below their mid-lines, anticipating additional declines on a break below the 135.10 level."
Key Quotes:
"The pair has been trading in quite a limited range for these past few days, which makes of this slide a more significant one, when it comes to determinate a possible break out. Short term, the 1 hour chart shows that the price retreated from a strongly bearish 100 SMA, whilst the technical indicators head lower below their mid-lines, and the RSI indicator approaches oversold levels."
"In the 4 hours chart the pair is now trading below its 100 SMA for the first time in two weeks, whilst the technical indicators have gained bearish strength below their mid-lines, anticipating additional declines on a break below the 135.10 level."