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Aug 19, 2014
EUR/JPY in need to remove 138.00 - FXStreet
FXStreet (Bali) - According to Valeria Bednarik, Chief Analyst at FXStreet, EUR/JPY needs to remove 138.00 to start considering an interim bottom in place.
Key Quotes
"The EUR/JPY enters Tuesday unchanged from the weekly opening, having held above the 137.00 level for most of the day."
"Unchanged since previous update, 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."
"In the 4 hours chart indicators stand flat around their midlines, showing no directional strength. The ruling trend however is still bearish longer term, with some sustained gains beyond 138.00 required to start considering an interim bottom in place."
Key Quotes
"The EUR/JPY enters Tuesday unchanged from the weekly opening, having held above the 137.00 level for most of the day."
"Unchanged since previous update, 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."
"In the 4 hours chart indicators stand flat around their midlines, showing no directional strength. The ruling trend however is still bearish longer term, with some sustained gains beyond 138.00 required to start considering an interim bottom in place."