OctaFX | OctaFX Forex Broker
Open trading account

EUR/JPY: still lacks direction - FXStreet

FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted and explained that the EUR/JPY pair edged slightly lower, but held above the 135.00 in extremely thin trading.

Key Quotes:

"The decline can be attributed to EUR weakness, as the Japanese yen closed lower against most of its other rivals. An early advance found sellers around the 100 DMA, at 135.90, still the major resistance level to break to see the pair advancing."

"Short term, the 1 hour chart presents a bearish bias, with the 100 SMA crossing below the 200 DMA above the current level, and the technical indicators lacking directional strength, but well below their mid-lines."

"In the 4 hours chart, the price hovers around its 100 and 200 SMAs, both horizontal in a tight 20 pips range and reflecting the lack of a directional trend, whilst the Momentum indicator aims higher around 100 and the RSI indicator also heads north, but at 43, all of which limits chances of a stronger advance as long as the mentioned resistance continues to cap the upside."

EUR/USD: bearish case building ahead of ECB

EUR/USD is currently trading at 1.1323 with a high of 1.1379 and a low of 1.1305.
Read more Previous

Wall Street closing: markets shrugs off China

The US market was relatively quiet and unrattled by the signs of weakness in the Chinese economy which had a greater impact on commodities than equities.
Read more Next
Start livechat