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EUR/JPY: 142.20 key support on steady grounds - FXStreet

FXStreet (Guatemala) - Valeria Bednarik, chief analyst at Commerzbank explained that the EUR/JPY hovers around the 23.6% retracement of its latest bearish run, presenting a quite neutral technical stance.

Key Quotes:

“Price also is stuck around its 100 SMA, unable to define a direction”.

“Indicators in the same time frame hold around their midlines, also lacking directional strength, while the 4 hours chart shows momentum entering negative territory, and RSI around 57”.

“Some intraday lows for late last week at 142.20 stand as immediate short term support with a break below probably seeing the pair extending its decline towards 141.55, 38.2% retracement of the 137.03/144.22 run”.

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