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EUR/JPY: 127.30 on the cards post Fed? - FXStreet

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 16, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Valeria Bednarik, chief analyst at FXStreet explained that the EUR/JPY pair gained ground after a dovish FED, reaching 126.44, as JPY gains were limited on the back of soaring stocks.

    Key Quotes:

    "Despite trading in the green, the pair remains within Tuesday's range, having posted a lower high daily basis, which suggests the upside is still limited. In the shorter term, the 1 hour chart shows that the price is unable to advance above a bullish 100 SMA, while the technical indicators are losing upward strength within positive territory, far however, from suggesting a downward move ahead."

    "In the 4 hours chart, the technical indicators head higher, with the RSI indicator already above its mid-line, but the price retreating form a bearish 200 SMA, in line with the shorter term outlook. Nevertheless, additional gains beyond 126.45 should see the pair extend its advance towards the weekly high, at 127.30."
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