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24 Feb 2015
EUR/JPY presents short term bearish bias - FXStreet
FXStreet (Bali) - The EUR/JPY pair presents a short term bearish bias after Monday's price action, as per the 1 hour chart, notes Valeria Bednarik, Chief Analyst at FXStreet.
Key Quotes
"The Japanese Yen edged higher against most of its rivals, as stocks traded lower for most of the day at both shores of the Atlantic."
"Nevertheless, the slow day implied limited movements that will probably extend during the Asian session, as China remains on holiday's and no relevant fundamental data is scheduled for this Tuesday."
"The EUR/JPY pair presents a short term bearish bias, as the 1 hour chart shows that the price broke below its 100 and 200 SMAs earlier in the day while the technical indicators head lower below their mid-lines."
"In the 4 hours chart the pair trades within recent range, with the indicators directionless below their mid-lines. The price needs to accelerate below 134.40 to confirm a stronger decline in the short term, towards the critical figure of 134.00."
Key Quotes
"The Japanese Yen edged higher against most of its rivals, as stocks traded lower for most of the day at both shores of the Atlantic."
"Nevertheless, the slow day implied limited movements that will probably extend during the Asian session, as China remains on holiday's and no relevant fundamental data is scheduled for this Tuesday."
"The EUR/JPY pair presents a short term bearish bias, as the 1 hour chart shows that the price broke below its 100 and 200 SMAs earlier in the day while the technical indicators head lower below their mid-lines."
"In the 4 hours chart the pair trades within recent range, with the indicators directionless below their mid-lines. The price needs to accelerate below 134.40 to confirm a stronger decline in the short term, towards the critical figure of 134.00."