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21 May 2015
EUR/JPY: 134.00 is key support - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted the conditions surrounding EUR/JPY in to the US close.
Key Quotes:
"The cross managed to post a lower low daily basis, at 133.90."
"The Japanese yen saw a limited advance as Japanese GDP in the Q1 grew above expected, reaching 2.4%, but the yen failed to sustain gains, and EUR weakness kept the pair subdued."
"Technically, the 1 hour chart shows that the price remains below its 100 and 200 SMAs, with the largest offering an immediate intraday resistance around 135.00."
"The technical indicators in the same time frame recovered up to their mid-lines where they stand now flat, reflecting little buying interest around the pair."
"In the 4 hours chart the price moves back and forth around a still bullish 100 SMA, whilst the technical indicators recovered from oversold territory, but lost upward strength well into negative territory, supporting additional declines on renewed slides below the 134.00 level."
Key Quotes:
"The cross managed to post a lower low daily basis, at 133.90."
"The Japanese yen saw a limited advance as Japanese GDP in the Q1 grew above expected, reaching 2.4%, but the yen failed to sustain gains, and EUR weakness kept the pair subdued."
"Technically, the 1 hour chart shows that the price remains below its 100 and 200 SMAs, with the largest offering an immediate intraday resistance around 135.00."
"The technical indicators in the same time frame recovered up to their mid-lines where they stand now flat, reflecting little buying interest around the pair."
"In the 4 hours chart the price moves back and forth around a still bullish 100 SMA, whilst the technical indicators recovered from oversold territory, but lost upward strength well into negative territory, supporting additional declines on renewed slides below the 134.00 level."