EUR/JPY: a clear bearish picture - FXStreet

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 31, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted the conditions surrounding EUR/JPY overnight.

    Key Quotes:

    "The EUR/JPY pair trades pretty much unchanged from its daily opening, maintaining the generally negative tone and meeting selling interest on approaches to the 132.00 level. The technical picture is bearish, as in the daily chart, the pair has remained confined within the lower half of Tuesday's range, and the technical indicators continue headings south within bearish territory, while the 100 DMA continues heading south above the current level.

    Shorter, term and in the 4 hours chart the technical picture is also bearish, as the price is developing below its 100 and 200 SMAs, and the technical indicators head lower below their mid-lines."
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