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EUR/JPY back to 137.00

FXStreet (Córdoba) - The EUR/JPY finished Wednesday flat , trading around 137.00. During the Asian session the pair moved to the downside and bottomed at 136.72, the lowest price in almost two weeks but then bounced sharply to the upside, peaking at 137.28.

On American hours price action remained limited and the EUR/JPY pulled back toward, 137.00, where it also closed yesterday.

EUR/JPY technical outlook

According to Valeria Bednarik, Chief Analyst at FXStreet affirms that the hourly chart is showing price being capped by the 200-SMA at 137.30 and technical indicators are turning south above their midlines.

“In the 4 hours chart price hovers around its moving averages both in a 20 pips range and with a mild bearish tone; indicators in this last time frame stand in negative territory, with momentum heading higher but RSI lower, leaving a mixed picture at the time being,” affirms Bednarik.

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