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EUR/JPY needs break of 136.90 to expose 136.00 - FXStreet

FXStreet (Bali) - According to Valeria Bednarik, Chief Analyst at FXStreet, EUR/JPY requires to break through 136.90 for bears to gain confidence towards 136.00 zone.

Key Quotes

"The EUR/JPY attempt of recovery faltered around 137.40, with the pair down a few pips its daily opening, holding for now above the 137.00 figure. US indexes traded positive for most of the day thus not far away from yesterday’s closes, with the S&P a few points above 2000 for most of the day."

"As for the EUR/JPY, the hourly chart shows price extending below its 200 SMA while indicators turned lower but hold so far above their midlines. In the 4 hours chart price hovers around both 100 and 200 SMA, together in a 20 pips range, reflecting latest lack of clear direction, while indicators diverge in negative territory. Price needs to break below the 136.90 to be more bearish constructive towards the 136.00 price zone."

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