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2 Apr 2015
EUR/JPY: Downward potential has increased - FXStreet
FXStreet (Bali) - The downward potential in EUR/JPY has increased in the short term, notes Valeria Bednarik, Chief Analyst at FXStreet.
Key Quotes
"The downward potential in the pair has increased in the short term, as the 1 hour chart shows that the 100 SMA accelerated sharply below the 200 SMA, with the shortest now offering dynamic resistance in the 129.40 region, and the technical indicators head lower below their mid-lines."
"In the 4 hours chart the pair found sellers around a bearish 100 SMA, whilst the technical indicators remain directionless in negative territory."
"Having been unable to regain the 130.0 level, the downside is favored in the mid-term, although there is quite usual to see JPY crosses ranging one day before US employment data, and waiting for the report before setting its directional strength."
Key Quotes
"The downward potential in the pair has increased in the short term, as the 1 hour chart shows that the 100 SMA accelerated sharply below the 200 SMA, with the shortest now offering dynamic resistance in the 129.40 region, and the technical indicators head lower below their mid-lines."
"In the 4 hours chart the pair found sellers around a bearish 100 SMA, whilst the technical indicators remain directionless in negative territory."
"Having been unable to regain the 130.0 level, the downside is favored in the mid-term, although there is quite usual to see JPY crosses ranging one day before US employment data, and waiting for the report before setting its directional strength."