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5 May 2015
EUR/JPY: Bulls looking for a break of 134.70 - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the recovery in the common currency dragged the EUR/JPY cross back higher, after it fell down to an intraday low of 133.10 earlier in the day.
Key Quotes:
"The yen has been generally weaker across the board until the release of the US data, adding to the bullish case in the EUR/JPY."
"Technically the 1 hour chart shows that the price fell briefly below its 100 SMA that anyway maintains a strong bullish slope, currently in the 133.80 region, whilst the technical indicators maintain a positive tone well above their mid-lines."
"In the 4 hours chart the Momentum indicator stands directionless right below 100 whilst the RSI loses upward strength around 61, supporting additional advances particularly on an extension beyond the immediate resistance at 134.70."
Key Quotes:
"The yen has been generally weaker across the board until the release of the US data, adding to the bullish case in the EUR/JPY."
"Technically the 1 hour chart shows that the price fell briefly below its 100 SMA that anyway maintains a strong bullish slope, currently in the 133.80 region, whilst the technical indicators maintain a positive tone well above their mid-lines."
"In the 4 hours chart the Momentum indicator stands directionless right below 100 whilst the RSI loses upward strength around 61, supporting additional advances particularly on an extension beyond the immediate resistance at 134.70."