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EUR/JPY poised to extend decline - FXStreet

FXStreet (Bali) - According to Valeria Bednatik, Chief Analyst at FXStreet, EUR/JPY presents a strong bearish momentum in the H4 chart coming from technical readings that support a continued decline.

Key Quotes

"Yen strengthened against most rivals, weighted by easing stocks and yields and with the EUR/JPY adding another strong red candle."

"The 1 hour chart shows indicators trying to correct higher in extreme oversold levels, while price accelerated below its moving averages, dragging 100 one lower and both in a tight range around 139.60 turning into a strong intraday resistance."

"In the 4 hours chart the pair presents a strong bearish momentum coming from technical readings that support a continued decline on a break below 138.40 immediate support."

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