Back
18 Mar 2015
EUR/JPY: To continue south post FOMC?- FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained and noted that EUR/JPY ended the US day with limited gains.
Key Quotes:
"...with most of yen's pairs consolidating ahead of big US news."
"The 1 hour chart shows that the price advanced above its 100 SMA, but was rejected from a daily high of 129.14, whilst the technical indicators hover directionless above their mid-lines."
"In the 4 hours chart the Momentum indicator heads higher above 100, but the RSI turned lower around 50. Furthermore, the previous candle shows a long upper shadow, which reflects selling EUR crosses at higher levels continue to be consider attractive."
"A firmer advance above the 129.10/20 area is required to confirm further advances, with a break below 127.50 on the other hand probably signaling a continued decline post-FOMC."
Key Quotes:
"...with most of yen's pairs consolidating ahead of big US news."
"The 1 hour chart shows that the price advanced above its 100 SMA, but was rejected from a daily high of 129.14, whilst the technical indicators hover directionless above their mid-lines."
"In the 4 hours chart the Momentum indicator heads higher above 100, but the RSI turned lower around 50. Furthermore, the previous candle shows a long upper shadow, which reflects selling EUR crosses at higher levels continue to be consider attractive."
"A firmer advance above the 129.10/20 area is required to confirm further advances, with a break below 127.50 on the other hand probably signaling a continued decline post-FOMC."