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1 Feb 2016
EUR/JPY techs: Loss of 131.00 exposes 130.00 - FXStreet
FXStreet (Bali) - EUR/JPY is last trading at 131.35, with Valeria Bednarik, Chief Analyst at FXStreet, noting that should the price lose the 131.00 handle, the risk will turn towards the downside.
Key Quotes
"From a technical point of view, the 1 hour chart shows that the technical indicators retreated from overbought levels and entered negative territory where they stand, holding anyway above its moving averages."
"In the 4 hours chart, the Momentum indicator heads lower from overbought readings, but remains well above its mid-line at the time being, while the RSI indicator stands around 66."
"Should the price ease below the 131.00 level, the risk will turn towards the downside with buyers probably surging 100 pips lower, around the key 130.00 figure."
Key Quotes
"From a technical point of view, the 1 hour chart shows that the technical indicators retreated from overbought levels and entered negative territory where they stand, holding anyway above its moving averages."
"In the 4 hours chart, the Momentum indicator heads lower from overbought readings, but remains well above its mid-line at the time being, while the RSI indicator stands around 66."
"Should the price ease below the 131.00 level, the risk will turn towards the downside with buyers probably surging 100 pips lower, around the key 130.00 figure."