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Aug 18, 2014
EUR/JPY hovering around 137.00
FXStreet (Córdoba) - The ">EUR/JPY is about to end Monday practically unchanged from Friday’s closing price as it trades around 137.00. Price action moved in a range of less than 40 pips.
During the European hours peaked at 137.25 but then turned lower and fell to 136.88, the lowest price of the day. It was a quiet day for the pair, that moved with low volatility.
EUR/JPY technical outlook
“The hourly chart shows price holding above a bullish 100 SMA and 200 one now around 136.80, acting as intraday support while indicators hover around their midlines”, says ">Valeria Bednarik, Chief Analyst at FXStreet.
The ruling trend is still bearish longer term notes Bednarik, “with some sustained gains beyond 138.00 required to start considering an interim bottom in place”.
During the European hours peaked at 137.25 but then turned lower and fell to 136.88, the lowest price of the day. It was a quiet day for the pair, that moved with low volatility.
EUR/JPY technical outlook
“The hourly chart shows price holding above a bullish 100 SMA and 200 one now around 136.80, acting as intraday support while indicators hover around their midlines”, says ">Valeria Bednarik, Chief Analyst at FXStreet.
The ruling trend is still bearish longer term notes Bednarik, “with some sustained gains beyond 138.00 required to start considering an interim bottom in place”.