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EUR/JPY: Break below 145.50 exposes 144.00 - FXStreet

FXStreet (Bali) - According to Valeria Bednarik, Chief Analyst at FXStreet, notes that if Euro weakness persists, EUR/JPY may finally break below 145.50, targeting the 144.00 mark.

Key Quotes

The EUR/JPY suffered from both, a stronger yen and a weaker Euro, resulting in a nearly 250 pips slide last Friday that anyway extends with the weekly opening."

"The 1 hour chart shows price pressuring its 200 SMA, level that held last American session, while indicators remain directionless in extreme oversold levels."

"In the 4 hours chart however, indicators present a strong downward momentum that suggests a downward continuation for the upcoming sessions."

"A downward acceleration through 145.50 immediate support should see the pair extending down to November 17th low around 144.80, where yen sellers may halt the bleeding. However, if Euro weakness persists, the pair can finally break below it, eyeing then the 144.00 mark."

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EUR/AUD is trading at 1.4252, down -0.29% on the day, having posted a daily high at 1.4277 and low at 1.4240.
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