5 Aug 2015
EUR/JPY: 136.44 is critical resistance - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that EUR/JPY turned sharply higher on the back of Yen's weakness and offers an analyses on the four hour time frame.
Key Quotes:
"In the 4 hours chart, the recovery was not enough to extend beyond Tuesday's high, which has left the technical picture back in neutral, as the Momentum indicator is now hovering around the 100 level, whilst the RSI indicator is turning flat around 54."
"The weekly high stands at 136.44, and is now a critical resistance as it will take a break above it to confirm a continued advance for this Thursday."
Key Quotes:
"In the 4 hours chart, the recovery was not enough to extend beyond Tuesday's high, which has left the technical picture back in neutral, as the Momentum indicator is now hovering around the 100 level, whilst the RSI indicator is turning flat around 54."
"The weekly high stands at 136.44, and is now a critical resistance as it will take a break above it to confirm a continued advance for this Thursday."