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EUR/JPY: neutral stance below MA's - FXStreet

FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the EUR/JPY pair has shown little progress this Tuesday, as both currencies traded in tandem against its American rival and following market's sentiment.

Key Quotes:

"Having held within Monday's range, the daily chart shows that the price continues hovering around the 200 DMA, while the technical indicators stand un negative territory, maintaining the risk towards the downside. In the short term, the price was unable to advance beyond its 200 SMA, now around 134.90, while the technical indicators turn lower around their mid-lines."

"In the 4 hours chart, the price is below its moving averages, but the technical indicators present a neutral stance, flat around their mid-lines, giving little directional clues for the upcoming hours."

AUD/USD supported on hourly 20 SMA

AUD/USD is currently trading at 0.6985 with a high of 0.7024 and a low of 0.6936. AUD/USD is settling back after a good display on the bid as markets began to turn less negative in the European session, and the major commodity currency rallied from the lows of 0.6942 up to test the vicinity of the 50 SMA on the hourly chart at 0.6997. It was breaching there to score a high of 0.7023.
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