30 Jun 2014
EUR/JPY in the middle its day range
FXStreet (Bali) - EUR/JPY is trading at 138.40, down -0.03% on the day, having posted a daily high at 138.48 and low at 138.35.
EUR/JPY spot is in overbought territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish. RSI is in neutral territory at 64.21, up from it’s last hourly close at 57.48, while ADX is trending above 30 at 46.40, up from 25.40 at the last hourly close.
Looking to a daily chart, we see that RSI is neutral at 41.24. The 200 SMA is currently at 138.41, down from 138.58 at the last period close, and declining on the hourly EUR/JPY chart. Moving with a downward trend, the exponential average closing price is 138.78
Technically, Jim Langlands, Founder at FXCharts, notes: "The cross is slightly lower on the back of the Yen strength seen late last week but is really doing not a lot. Having broken down below the 200 DMA, now at 139.00, it has so far been unable to recover its ground and looks as though it may be in for more of the slow drift lower. There is not a whole lot of support though until we reach the top of the weekly cloud at 137.55, below which we may eventually be headed for the 4 Feb low at 136.22. On the topside, if the 200 DMA can be regained then we could be in for another squeeze back to 139.75 (daily cloud base) and towards 140.00, but this looks a bit unlikely right now."
EUR/JPY spot is in overbought territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish. RSI is in neutral territory at 64.21, up from it’s last hourly close at 57.48, while ADX is trending above 30 at 46.40, up from 25.40 at the last hourly close.
Looking to a daily chart, we see that RSI is neutral at 41.24. The 200 SMA is currently at 138.41, down from 138.58 at the last period close, and declining on the hourly EUR/JPY chart. Moving with a downward trend, the exponential average closing price is 138.78
Technically, Jim Langlands, Founder at FXCharts, notes: "The cross is slightly lower on the back of the Yen strength seen late last week but is really doing not a lot. Having broken down below the 200 DMA, now at 139.00, it has so far been unable to recover its ground and looks as though it may be in for more of the slow drift lower. There is not a whole lot of support though until we reach the top of the weekly cloud at 137.55, below which we may eventually be headed for the 4 Feb low at 136.22. On the topside, if the 200 DMA can be regained then we could be in for another squeeze back to 139.75 (daily cloud base) and towards 140.00, but this looks a bit unlikely right now."